he referenced the viacom deal just announced. i think what is happening in the media space is media companies feel like they need to consolidate because competition isn't just with each other. it is with big technology companies like apple, like amazon, google, facebook that are much bigger than the traditional big media companies, and their global. they are really taking a lot of the ad dollars, a lot of the subscription dollars. they are getting into the con did business. if you are the walt disney company, you feel like -- into the content business. if you are the walt disney company, you feel like you need to compete not just against media companies, but technology companies. alix: they needed to launch disney+ to be able to compete with netflix at the end of the day. so is this the call, do not focus on tech? surprising,k it was but he's also talking about the loss of local journalism around the country, which is a significant issue. the issue there is simply economics. consumers do not want to pay for local news. they'd rat

first of all, viacom. cbs is buying viacom for some cbs stock. both companies are downing the premarket. this has been expect it for some time. the question is not so much will they get together, but what they do with the company wants to get together because it is a really tough business. taylor: here's what arguably they should do, is may be spend to keep up with their big competitors. we talk about scale, but scale means big scale, big spending. you have to not only look at the savings, but the expenses. david: a lot of content is what they need. taylor: the other story is all about the wework ipo. we did get the filing they may just in the last hour or so. valuationout wework's , still about $47 billion or so, valued high growth like a tech company, but that are served -- but there are some questions. they do have an all-male board. most companies are actually going to transition to a little more diversity. but not quite yet, as we work is showing us. they are giving us some big disclosures about the company to avoid any conflict of interest

viacom shareholders not getting much of a premium. last year they did agree on a higher ratio, but that was based on management teams then. a few things have changed. viacom will argue that they've gotten stronger since then. then tong its ceo since a slew of sexual harassment allegations. what cbsalk me through and viacom get from this merger. >> the big thing they get is scale. that is the buzzword in media these days, especially when they're trying to compete against the netflix of this world. netflix is spending more than $13 billion in its programming. it is difficult to compete with players like that. cbs and viacom will be combining paramount studios, nickelodeon, ,bs all access, cbs networks the number one most-watched tv network in america. number ones the network in america. at the same time, paramount studios has been having a tough time. even nickelodeon has been struggling. does it compare with the disneys of the world? is the big>> that hope that this gives the company is a chance to compete with the disneys of the world

first of all, viacom and cbs. the boards were working through the night, trying to announce maybe today that they will put cbs and viacom back together again. both companies are having a bit of trouble. the question is, what do they do when they get them back together? nejra: what a long time coming this has been. the second company we are looking at is aramco. here's the cfo on the company's up and downstream. >> the perspective of the market conditions, oracle within the country in upstream -- within the company in upstream is to maintain our position as the and crude producers increase the petrochemical production. nejra: so a 12% drop in the , tot six months of the year try and diversify away from saudi arabia. david: a very rich valuation, it seems to me. for our third company, we are looking at for saatchi. --dan -- at verse saatchi at versace. joining us now is brooke sutherland. these countries that are cities in china's mind, hong kong and taipei, this latest issue lists taipei as a separate saatchi -- by

cbs and viacom. we know what their earns are but we would know who would manage the company if they happen to merge. the head of viacom will be the c.e.o. the head of cbs will run the cbs part of the assets and we know the c.f.o. will be the cbs person. they're not saying they're merging but just in case, they've got a plan. alix: maybe if something comes up, they might have a plan. tyson foods out with earnings. delivered pretty strongly. they beat on the bottom line, they also came in right above their expectation. estimates for the top line as well. and the big takeaway for me is that the best could be yet to come. you have the african swine flu decimating the hog population in china in theory for the guys like tyson, they have car gill. this is going to be very good for them going forward because it's going to be a huge lack of supply of protein like chicken and beef that they will have to send over to china. and you will have a huge lack of supply. that's not happening yet but it will be a big b