billion in market cap added to disney since they announced streaming is more than the value of cbs and viacom combined if they in fact do combine. so it's been a big, big run. on your question on fox, i do think ultimately the price of the fox transaction is going to be questioned. when you strip away the fact that they sold off their sky interest and the regional sports channels it's still a $50 billion price tag, but a $50 billion price tag got them national geographic channel and fx and it will struggle like all the others and tv and film library. well, a today groe we see what's happening with the studio and people are going to question the fox studio value. the library certainly has value particularly as they need content to go internationally. but it's $50 billion the right number there particularly with the investment in originals they have to make, that's a big question. >> tom, thank you. julia, awesome interview with mr. iger thank you. >>> coming up, take a check on futures. they have been trading pretty much in tandem with yields and we saw the yields up premarket session lows of

. >>> welcome back to "squawk box," viacom reporting 13 dollars a share. it's helped by a return to growth n in domestic ad sales. >> that stock not reacting too much on the back of this >>> a couple other stocks on the move to tell you about we have service lyft reporting a smaller than adjusted loss in the second quarter revenue rose 72% that was a beat if terms of the forecast, gaining more riders. they gained more per ride. the company also boosting its outlook for the year but then again there was a lockup and that's put pressure on it as well >> 157 million shares are eligible on august 19th to be traded. >> you will w5uatch to see ever single insideer. >> surprise, surprise, lyft and uber earnings going up now they have public market pressure on them as well >>> shares of roku surging, revenue beat estimates roku topped 30 million users live on "squawk alley" at 11:15 a.m. eastern time. >>> well, the countdown is on over at burger king, the fast food chain is launching the impossible whopper nationwide today following successful limited tests. you b

i do think it's worth noting on the heels of those viacom earnings that viacom's big plays in the free ad supported content with pluto tv. as we see disney fight it out with netflix and all of these other pay services, we are going to see the rise of these free ad-supported services. part of that is just because that digital premium content ad revenue is so valuable in this space. that's what hulu is in a lot of ways about, even though disney is offering this bundle with these three services they're going t mao make money o those hulu subscribers so i think that's something to keep in mind, there are two different battles here, one for the ad dollars and another for the subscription dollars but back to this question of what draws people into the new services, i have always heard that it's the new content, which by the way that netflix advertises with great expense, that brings people in and then what they do once they watch a new season of a new show is they just stick around and watch what used to be "the office." >> final word. you're flipping that script around it sounds like. >> al

the last time they discussed this, 0.61 cbs shares for every viacom share that's where viacom wants it higher cbs is saying, your shares are trading with that baked in let's go back. >> and amass any executive payouts. that's all settled? >> a chance iaonelo stays on and he gets to stay and keep the money. that's what my sources are been telling me >> do you think that cbs/viacom merged is a stronger company >> yeah. if you look at the consolidation. everybody is terrified of disney right now, after acquiring fox and launching the streaming service. if you want to compete, you have to keep doing that >> i think just to get to par. i don't know if it makes them stronger but it puts them to be able to play with the other guy. it gets them larger to go after disney can the organizations merge themselves effectively can they put them together and make them work or will it be two things >> i think it's a great question can they tie themselves up, when they go to the cable operators and the satellite operators, do they have enough left to extract higher fees. a lot of the deals have been wor

with viacom, it's a smaller, nimbler company now. so i think shari, i think she's going to be more of a buyer than a seller i wouldn't rule that out 24 months from now. >> you think she's more a buyer? >> at this point there's a bunch of smaller networks, smaller studios out there for sale i think sony is the only other sort of target that's of any real size that, oh, wow, that could be a thing there have been reports from discovery last year. that would add, but that would add in the sense of the fight for these licensing deals. again, that era, i feel, is coming to an end. >> so much about this situation has been telegraphed in the press. what happens if the deal gets announced, with roughly what's expected and both stocks plummet? >> yeah, well, that will tell you that a sense of your prospect in my company aren't necessarily better as separate companies. >> you think this deal would be ironclad you don't think either could walk away? >> i think they could still walk away she can't interject herself in this process based on agreem

you can see the viacom sign over there. we'll walk across the street >> these lights take forever i would say 6:30 is a good time to go. i agree. don't you agree? this is a big show today >> big show, not only backish but wilbur ross on the day that is the deadline for the waivers for companies to do business with huawei. that's the big thing happening today. >> it's a big show one other thing, you were talking about these electronics. i want to update people. my air pods -- >> what happened >> someone told me put the right one in the left ear, the left one in the right ear it worked for this person. they work for me it's a little uncomfortable. >> what was the issue? >> they don't fit normally right and left they're too -- i think they might be too big so it never is in there well >> i have one right here >> you could be walking over a sewer grate -- i'm petrified just standing there, they fall out. >> one goes to the right ear like this. instead of placing it there, backwards? >> yes >> but you have to turn the volume up

emily: viacom ceo there. coming up, softbank's massive fund makes its first ever energy storage send that set. we -- set. we find out what energy fault is with the ceo. this is bloomberg. -- vault is with the ceo. this is bloomberg. ♪ emily: softbank's massive vision fund made its first ever energy storage that, investing in energy volt -- vault. this company stacks concrete blocks in a tower that can store and release energy. it is presenting it as a solution to lithium batteries, claiming it can't supply electricity 24 hours a day. to discuss what this means for the energy storage market, i sat down with the ceo. >> we have designed an innovative new system tower. it includes a six arm crane and 35,000 metric ton bricks that are all orchestrated with a proprietary -- software set, so that is the whole system integration. we take excess energy from solar or wind when it is produced and not needed. that energy is used to raise the blocks and when the energy is needed by the grid, we lower those blocks and d

cbs and viacom finally inked a merger deal. we will talk to viacom's ceo about synergies and the road ahead. what slowing economy? chinese online retailer alibaba defies the slowdown of missed a -- amidst a trade war with sales surpassing expectations. first to our top story, it was a big week for tech ipo's with fleet work and cloudflare filing to go public. the web security company cloudflare has been in the news lately, given its relationship with controversial message board, 8chan. three alleged gunman posted manifestoes on 8chan before three separate mass shootings in the united states. cloudflare stop providing services after the latest shooting in el paso, left two dozen dead, largely taking the platform off-line. so, is now the time to go public for cloudflare? i discussed it with liliana baker and will curtain. >> like many other tech ideas, -- ipo's especially in software, , it is not profitable. it has a pretty good growth rate though. it's really trying to look at its competitor, fastly. fastly went public earlier t