? football fans, rejoice.
One month after a cable blackout left cbs fans in the dark, the deal has been made in time for kickoff.
The deal is being seen as a win for cbs.
They will now collect bigger checks from their cable distributors and let's move as wants to contain every regional platform.
-- les moonves wants to contain every regional platform.
What they are selling at, making money on it here, we are not.
All that we said is that if you want to keep this, we have to get paid for it.
We view it as piracy.
Looking forward, is this a precedent?
Will cbs emerge victorious in the next battle?
Starting with alex, starting with this deal, was the threat of football really the ultimate leverage?
It certainly helped, no question, but really alternately if you have programming that you want to watch, they will be on your side because the consumer pays their bills to the cable provider and therefore the consumer cancels that bill from the cable provider.
Cbs does not collect advertising revenue.
Ultimately that is the chain here, which is why time warner cable couldn't not reach a deal, they feared a massive amount to subscribers could potentially move away from them and toward a competitor if they did not reach a deal by the time the nfl season started.
If i do not have a football, i might go to another cable provider.
What does this mean in terms of precedent going forward now as they negotiate with other cable providers?
What does this tell you about the future?
It is more of the same.
Over the last two years there have been something like 35 different blackout disputes, 150 local stations have gone dark, the vast majority are resolved within one week to four weeks.
We expected, most market participants expected this dispute to be resolved before the premiere season came back, but alex made a great point, that leverage is out of balance between the owners of content and distributors of content and what this means is you are likely to see, as with the verizon deal announced today, the microsoft deal, you are about to see a wave of deals in the pay television distribution space.
You are likely to seem time warner cable, cablevision, perhaps coming together?
That would be 25 to 35% share of television, and if that happens you are likely to see a combination of dish and directv.
In the united states we need to create more pay tv districts.
Is the idea here that you're getting leverage?
When cbs went dark, time warner cable, los angeles, it was only a 3% hit to their ratings.
If cable providers say that they want this leverage and that they are going to negotiate harder, why would a content provider not eventually say -- we can charge for this content, and forget about you all together?
Part of the deal here was that time warner cable wanted their out of home rights and cbs said no.
The reason cbs did not do that is they want to hold onto that chip just in case some like apple or google comes along and decides they want to get into the live distribution of television business, cbs has a chip that no one else has and they say if you are willing to pay the big bucks, we would give it to you and you can have it when no one else does.
An important chip to have to cash in in the future.
Let's go over to andy in the options market.
This is very positive news and i am also not surprised that this deal was done by before nfl football season.
The season comes in as well, with cbs i am looking at something farther at.
I can put this on for about $150 and i think that cvs can get above these caps, pinpointing the catalyst for earnings.
They should be bringing in more money because of that.
I am getting 2.5 times the awards on earnings and i think there is more potential short- term.
Longer-term, down the road, google might come in here.
I do like cvs.
Jason, where does this leave your thinking on the stock price?
The way to play pricing power and implement price increases for cbs, i think our top picks today are viacom and amc.
Cbs is certainly a close third.
They are vigorously reinvesting and they are the turnaround candidate, where cbs is just cheap cash flow.
We are going to leave it there.
Think about some much.
Everyone tonight and tomorrow as the ceo cbs takes us inside his battle in terms of telling us what this deal is going to mean the sugar.
We will get that -- trish, what with the market look like without the sugar?
And john hagel, testifying right now on capitol hill.
We will bring you the latest after the break.
? ? the obama administration is making its first public lobbying effort in front of congress on syria right now and you are seeing this happen live.
Secretary of state john kerry, secretary of defense chucked a goal, martin dempsey, all testifying in front of a senate panel.
Matt miller is here with us, as is fill mattingly, who joins us from washington.
Phil, let's start off with exactly what the secretary- general was telling the senators.
What we are seeing from the obama administration is they are really trying to thread a needle with a core group of lawmakers on the fence.
They have the ones that they know they have no shot with and the ones who will stand for it, so they are trying to tailor something that will appeal to a more robust response, as well as those who want as limited a response as possible.
One thing that we know is that officials appear to have settled on a key theme, the impact of inaction on the international stage.
This is most notable for countries with nuclear ambitions.
Listen to the secretary of state.
It is not an exaggeration to say to you, all of you, that the world is watching not just to see what we decide, but it is watching to see how we make this decision.
Whether in a dangerous world we can still make our government speak with one voice.
What you saw there was john kerry and chuck cale hagel, both former senators involved in the iraq debate and they recognize what they are pitching to their colleagues and the significance of the vote.
I think that what we will see as this goes on is the continued pitch, as they just said, how the view of the injured -- of the u.s. is internationally.
Certainly the process is front and center, we are always missing that.
Can you give us a sense as to whether the secretary of state has been any more specific them know my house as to what the threat would look like and how it is received by the senate?
This is one of the biggest changes we have heard from lawmakers and aides.
They said this was a nonstarter and that they would move forward in tailoring this.
Troops on the ground, things of that nature.
Lawmakers are also pitching another possible solution for support, which is that the administration is willing to provide support in a way of arms and training.
The top republican on the committee today has made it clear that the support has not, and he is wondering why it is taking so long.
The foreign affairs official on the house side said that what we might start to see formulate is a two pronged scenario with a moving quickly and limited strikes, which may be appeals to the limited segment pushing for a more robust response.
John mccain instagram both came out to say that they would like -- and lindsay gramm both came out to say they would like to see air strikes.
What is the danger, if any, that it becomes increasingly political?
Where one side believes this, the other side believes that, and they use it to their advantage.
Will this not become political in the days ahead?
We will -- we have spoken to congressional aides and lawmakers over the last couple of days and everyone has been pleasantly surprised by a lack of politics on a day-to-day basis.
Look, politics are always going to be in play now that these decisions are made.
Without a doubt.
We saw john boehner, nancy pelosi, both saying to go ahead with this, but also both saying that they would not put the hammer down to their members, that it was a vote for their conscience, they are trying to remove politics from this and let each member but the wrong decision.
It would be unprecedented for the president to go to congress and ask for support for military action and then get a note.
People talk about washington being broken, if that were in fact to happen, it would be reported on over and over again.
It is too much of an argument from the hawks, who want to see more.
John mccain obviously wants to see regime change and the leftover neocons want that.
I think he will have some opposition from those who do not want to.
John kerry has said that this is definitively in our national interests, which is something that is harder to sell.
Let's well, he has to sell it, obviously first to the foreign relations committee and then, ultimately, more importantly, to the rest of america.
The president came out and said that there was this red line and that the red line had been crossed and the up credibility of the president of the country, one could argue, is at stake.
That is not a fair argument for saying it is in our international interest.
Many will say that syria is far away and has little effect on the globe and maybe it is not worth our time and the lives of our soldiers to go out over and get drawn into a conflict.
As horrific as those images have been.
Phil, thank you for joining us from washington, d.c.. coming up, the fed is a big critic of the fed.
You are a big critic of the fed.
The chart is next.
? ? all right, time for shark attack, will show you charts that will make you smarter.
Qe , bad policy, but also a savior for the stock market and it belongs out there.
Talk us through this.
The purpose, as the chairman said, was for the fed to buy bonds and hold down interest rates so that we did not have to.
Pushing them up to create a wealth of fact.
The wealth effect never materialized.
I am going to pick that argument apart.
We have seen housing prices increased and the jobless rate has come down with the economy stumbling along.
Now we get into the counter facts.
Their hope was that it would create a larger, broadbased wealth effect.
You are right, we are all hot to buy task left and the hampton real estate is going crazy.
Through the roof is a relative term.
A record over the past month.
We need to get a chart in here.
Just that we are all on the same page, that is one out -- one heck of a welcome back.
If you look at the effective q e of the s&p 500, that is part of your argument.
Every time they did it was in green, every time we have not, it is in red.
Every time it has gone down and has been no qe or the threat, when we said we were done without them -- operation twist.
What happens this time around?
That is the thing, it is very clear that over the last four and half years, you give the market stimulus and it goes up, threaten to take it away and it struggles.
The stock market and the bond market have not been going anywhere because of the threat of no qe, which is the risk that you run when the fed pulls back.
It has fallen every other time for the last four years.
We are going to continue on with jim later in the show, plus cbs triumph of returning to the airwaves.
We have a stock that you need to know about today.
Telling up in the next hour, the interview with the deal maker who built the house of jordan.
? ? the market is well off the highs of the session here, with everything that happened we are getting caught up right now with the stocks that you need to know about.
10, cbs, rising nearly 5% after the tv network and time warner cable ended a month-long dispute put up -- dispute, putting an end to the stalemate . the finish line, 3% today as j.d. capital raises the stock to buy from neutral improving the product line.
Late last year finish line cut a deal to put them in hundreds of macy's stores.
A washington state lenders seeking takeover bids from other banks in recent weeks, holding talks with at least two bidders.
#7 is coca-cola, down after a downgrade to underperform late last month.
The beverage maker said that they sold less so -- less subtle in its second quarter.
Bank of america is up nearly 1%, setting a goal of $1.5 million of the sale of china construction bank shares in chinese financial institutions, making it more to hold these, not easy to be a bank these days.
Everyone is cutting back on how you can make money.
Herbal life, down after a a marketing professor in the college of new jersey told the sec that they lacked sufficient transparency for assessment as to whether it is a pyramid scheme.
There was a stake?
Someone to pass.
That is not much as the nation for it being down.
That is right.
There will come a day when we no longer talk about herbal life.
For now i cannot wait.
Apple, up one fraction after sending out invitations to its september event in california
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