Opening bell, and look, pizza slices.
[laughter] now you know what you might be having for lunch.
As markets open, i am joined by my guest host and fund manager at gamco.
Do you care about ipos?
We do because it is part of the process in allocating capital.
It is so the minimus that we do not participate in them, but notwithstanding that, what is important, if a public is -- company is going public in an area, what does that mean for comps.
What about grubhub, which basically gets commission for ordering pizzas online, and the valuation is, in many ways, as we have seen, a bit more expensive than even what some of the traditional food companies are getting.
Are we getting into frothy areas?
I do not know anything about grubhub.
Hilton, what i know about, i was at the roadshow.
I listen to them.
We were one of the largest holders before they went private.
It was basically a recycling of capital.
What does it mean for companies like mandarin, which we have an interest?
We look at that as a benchmark.
Media -- a lot of media deals lately.
You must be loving it.
John malone -- first, what do you make of i do notice a divestiture, but basically, they are taking some shares, or taking their money out of barnes & noble, giving up their board seat area would you make of that -- seek.
What you make of that?
He found a way to exit, made a nice half it.
He moves on.
Financial engineering, as i showed you, this is the grid.
Equipped he is good as a three-dimensional chess player eric you understand -- player.
He understands taxes better than most.
Fingerprints are on charter, liberty mobile, cable on a global basis, what is his vision three-to-five years from now?
Why did you take a bet on charter and what did they do with regards to time warner cable?
In the united states you have 120 million households.
Comcast is not going to be that big.
It will have 34 million subs if they buy time warner, minus three, 31 million.
That would allow dish and directv to come in and have an offsetting force and a counterbalance.
Do you expect a merger?
It is a logical deal, there are a lot of synergies.
Directv has wonderful assets.
Michael white has done a terrific job.
I own both.
They are substantial in our holdings.
In that context, a merger between the two companies -- directv, using capital structure, has taken a number of shares out but probably down to 500 million.
Ergin has 100 million.
A deal is logical.
The name of the game is speed and it is broadband.
Where else does it make sense to see a merger?
You have already going on a merger in the broadcasting industry.
Media general, which warren buffett is a big shareholder, is trying to buy lynn.
You like the soft stuff, so the supreme court ruled on the notion of a lot of money being able to be put into the elections, raising money -- that is great for broadcasters.
Not only is there a mini tsunami this year -- we will see tons and tons of political ads on television.
And that will help because advertising for cars and other subsets is very important area that is what we do -- important.
That is all we do.
We like the hard news and the soft news.
We like both.
Let's look at malone and charter.
Where does he go from here with charter communications?
It is a great question.
Basically, we have at the moment, it different million subscribers that subscribed to video through cable, and the sweet spot is broadband.
Net neutrality is an element of that.
I will not relegate the companies to be dumb pipes, but together they could add value.
They could create the next netflix of the world by combining content and distribution.
Is a charter with cox communication, who?
When i was younger recently a
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