Hollywood and media. A monster deal reverberating through hollywood and silicon valley, too. The deal david has been reporting has been announced disney is buying the majority of 21st century fox for more than 52 billion in stock david broke the news seems an eternity ago and is with us at post 9, having talked to eiger this morning we did. November 6th we broke the story. People still trying to get their head around it, but here we are with the deal itself a little more than a month later. Some 52. 4 billion worth of disney stock exchanged for these assets, in addition to 14 billion from the company closer to 55 billion overall in equity when you count the 515 million shares exchanged there will be some considerations netted out and so forth is why they get to the 52. 4 billion number the stocks themselves, fox performing fairly well as people try to understand the future of this independent entity that will comprise of fox sports, the fox network, fox broadcast, the affiliates, fox b
Nicery. Were on top of that decision shortly here that could be others are saying consumers it could cut a number of different ways. Were on top of that. Were on top after market rally that knows no bounds. It would be 69th record of the year, go back to bill clinton president , 1995, for the most records achieved in single calendar year. A lot depends on tax reform getting done. Speaker paul ryan, a lot of that depends on my friends in the United States senate. Take a look. It is all about timing and managing absences in the senate. So, were basically being flexible for the majority leader. I talked to mitch a couple times about this were simply being flexible to honor their concerns about managing their schedule and possibly absences. Neil how will that sort out . Were talking about senators cochran and john mccain who might be too ill to be there for the big vote. That could make a big difference. To fox news capitol hill producer chad pergram. What do they do in that event . Here i
Hedge Fund Managers to keep the ultralow tax rate. It is called carried interest. Really a nice pay much less than you. Forgive me if i call it a racket. We reported these tax details yesterday the market rally at the value of all stocks have gone up 623 trillion since the election. As things move forward today, stocks inching higher again with just 414 points from dow 25,000. I will say it again, ive never seen anything like this before. We have seen Government Shutdowns before and another one is looming. Congress has until next friday to fix it. This is politics. Previous shutdowns have no impact on the economy or the markets. Thursday december 14th, 11 days until christmas. Do you know where your package is . Varney company is about to begin. You know, the president was not whispering. Hes not known to speak in a low voice. We lost the audio. Tens of millions of people get an increase in their paycheck in february next year. He was talking tax cuts right here. By the way, hes readin
Aerkst prompting the retailer to turn its focus online. Shakeup in the skies. The airbus ceo, tom enders, announces his exit with the coo stepping down as well from troubled planemaker. And President Trump says the disney fox deal will be a great thing for jobs as ceo bob iger tells cnbc its a consumerfriendly tieup. Theres risk associated, whether you look at the price or the regulatory side or whether you look at the complexity of integrating companies this size. That risk was well worth taking on good morning, everybody. It is friday tgif lets see how the picture is trading in europe this morning we had a bit of a weakness over in the u. S. Trading session overnight. Dow jones and s p both ended the day lower after hitting intraday highs. Still some concerns about the tax bill being passed in congress, but well talk a little bit more about that later. And nikkei also did struggle in the overnight session, down despite Strong Manufacturing data the picture in europe is grim, stoxx 60
All thanks to what else . Bitcoin. They explain why they took a chance on cryptocurrency. First, to our lead. Net neutrality is no more. The fcc voted to repeal the obama era internet protections designed to keep broadband providers from favoring content. The republican Member Commission voted 32 to end the protections known as Net Neutrality. The vote came amid intense protests online and in person from defenders of the rules, who say this will create haves band havenots when it comes to accessing content. But fcc chair ajit pai heralded the return to what he calls a freespeech market approach, saying it is time to restart thats restore internet freedom. We are restoring the light touch framework that has governed the internet for most of its existence. Joining us now, one of the people who voted to repeal it, fcc commissioner brendan carr, who was nominated by president trump. Commissioner carr, thank you so much for joining us. You said today is a great day, many people say this is