News Corp Acquires Social News Agency Storyful

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Dec. 20 (Bloomberg) –- On today’s “The Roundup,” Matt Miller, Julie Hyman, Olivia Sterns, Adam Johnson and Trish Regan wrap up the day’s top market stories on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Appetite for social media and video.

News corp.

Is paying $25 million for a company that is only five years old.

It is a start up that identifies and verifies news and videos, you name it, everything that pops up on websites like youtube and facebook.

News corp.

Says that its new- media rivals use story full -- storyful to find videos.

Storyful just repackages other people pops off.

There is something different about them.

They actually verify the stories that they run.

You have a lot of other aggregators and they edit what they find.

They find stories that are less known to the rest of the web and then they have journalists on staff to make sure they are true and accurate full this is a big problem with social media.

I am impressed.

I went on their website and spent a few minutes trying to find out what exactly they do.

Aside from posting loads of new age internet jargon on the website, i could not great out.

-- figure it out.

You know that girl who was working -- twerking and fell over?

Storyful actually verify that story.

If you think about what is going on in news corp., and 21st century fox, now they are on their own and they have to prove that they can find stories like that.

They are realizing that you get a lot more bang for your buck with video ads.

They are pushing into video.

Man make an important point for posterity?

I want everyone to listen to me and remember that the company is called news corp.. it is not the marine corps, it is not a latin word for body.

It is an abbreviation for corporation.

He make that correction with love.

I will change the topic.

Electronic cigarettes have been banned from new york city restaurants.

The measure passed yesterday.

The law will take effect in four months.

The council speaker christine quinn back the measure.

The council has worked for well over a decade to curb smoking in new york city.

I believe this is one of our greatest accomplishments.

E cigarettes threaten to undermine the enforcement of the smoke-free air act.

Some people think they are re-normalizing smoking again and making it ok to smoke in a cafe.

The big complaint is that there is secondhand smoke.

There is an actual danger in secondhand smoke.

There is a little bit of paper and they come in different flavors.

I would not want to smell that.

I cannot understand the government's need to curtail the freedoms of his citizens.

With regard to the smoking ban, i would say that i was an occasional smoker before and i could not be happier now you cannot smoke in public places.

We are happy to walk into bars and not have to smell smoke.

I am happy to trade a little bit of my freedom for that.

Remember, it is not smoking.

But you are still helping people get addicted.

That is the idea.

That is not why smoking is banned.

It is banned because of the harm to other people, not the harm to yourself.

There is a small amount of vapor where people are using these things.

I have been a vapor parties.

I am just putting it out here.

He lives on the edge.

I can smell the stock and it does not smell good.

Being a total freaking weirdo is enough to keep someone from doing this.

Proponents of the ban will tell you that it is a good thing to get people to switch from tobacco to eat cigarettes.

It is a lesser evil.

Anything you do to slow that is not in the interest of public health.

Christine quinn's why is that it might normalize.

Right.

People who would not smoke tobacco might choose to smoke and you said.

-- e cigarettes.

Let's move onto something else that does not smell good.

That is blackberry.

The shares were actually up today.

They struck a five-year deal to have foxconn manufacture the devices.

Foxconn will make phones for blackberry.

Their plan to expand in indonesia and mexico.

They will target the indonesian market.

Earnings were out today, or should i say losses.

Revenue fell 56%. that is an amazing decline in revenue.

Sales of devices lunch as well.

1.9 million rom 3.7 million.

That is a quarter over quarter drop in revenue.

There are still a lot of challenges.

Everyone is trying to figure out, it really focuses on the enterprise market, on the higher end market, what does this foxconn agreement mean?

Will they charge more in asia?

There are a lot of questions here.

The new ceo and the direction that he is taking the company in, there are questions about that.

What you sell at this point?

They had a big charge today.

$40 billion in charges.

Part of that was to break down licensing an inventory that the carriers bought and don't want.

A are effectively cleaning the balance sheet so someone can come in and find a salvage value and by the thing.

If they have unfolded already, are they really going to sell it is my?

-- sell at this point?

Apple is moving away from foxconn.

Blackberry is getting in.

Analysts say that they wanted to reduce their closer to the handset.

That in a sense is a good move.

What will they do strategically?

We have spent too much time talking about blackberry and no one cares.

A goodwill gesture from vladimir hooton a few months before the winter olympic games.

A former oil billionaire was released from prison after a surprise pardon.

The former owner of an oil company, once russia's man, has been in jail over a decade.

The pardon might be helping distract people from being upset about russia's policies on human rights.

To your point, this is a huge news story.

He was probably the most famous political prisoner in the world for the past decade.

He has been in jail in siberia and he funded the opposition going up against hooton.

-- wonder hooton -- putin.

They will charge him with something else.

We will bring a word charge against him.

We are confident that it will stick.

People say that requesting a pardon is tantamount to admitting guilt.

People say that he did it because his mother is very sick and he wanted to get out.

Apparently he got out of jail and going to where his mother was, but she was not there.

After two years in prison, did you know pussy riot has been in jail for two years?

I thought there were more members.

You have lived everywhere.

X i wish i lived in california.

I have spent some time in california, in northern california.

I have to say that the tech investor has a point.

He wants to slip the state -- split up the state.

I would argue that northern and southern could be two separate states.

He wants to submit a polished version of the plant to the state's attorney general in the form of a ballot proposal in the next 48 hours.

He plans to section off california into six new states.

Silicon valley would get its own region.

It would be its own state.

A kind of is culturally.

He is pushing the initiative for several reasons.

He wants the state to be properly represented in washington.

He wants decisions made by state government to be more relevant to the population.

You think about orange county, and the difference between orange county in silicon valley and the san francisco area, look at new york state for example.

Look at albany versus new york.

I agree with you.

How many states are homogenous?

California is massive.

It would really increase competition.

I think it is ingenious.

Do you think you would see -- taxes are high.

They are very high in california.

The only place to move is where?

Nevada?

Like they are doing everything they can.

There is no income tax in nevada.

Compare that with california.

That is a good point.

Their gdp is the size of the russian economy.

If we make california a stand-alone country, it would be the sixth largest country in the world.

It is an incredible state.

They may be efficient with the tax structures.

Let's move on.

This text has been automatically generated. It may not be 100% accurate.

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