. >>> breaking news on cbs and viacom julia has the details. >>> the "wall street journal" reporting that cbs and viacom reached a working agreement on the combined company's leadership team with the expectations that bob bakish will be the ceo and joe eianell. this report also saying that cbs finance chief would be the cfo of the campaignombined company. both shares are down less than a percent on the news. this all comes ahead of both company's reported earnings this coming thursday. my sources tell me there's expectations they'll announce a deal before then but working out the details of the financial agreement between those two companies. so more details on the management team as we await news of an official deal. back over to you. >> julia, thank you. >>> also got some other breaking news european governments do have their pick for the next head of the imf. they are going with bulgaria do deal the executive board of the imf has to vote to approve her, but what needed to happen first is the europeans need to coalesce around one candidate there's kind of this informal agreement go

this is a look at disney and specifically how disney is valued relative to viacom cbs which is a big media company that will be coming together a dramatic line, which you usually don't see in a relative valuation chart. it is a forward pe of disney and the other two stocks compared to the s&p 500. hey, what happened here? a couple of things the fox merger closed, the acquisition of fox assets closed which was expensive and somewhat dilutive but increased the market cap also the analyst day, the investor day in april where they laid out the direct-to-consumer video offering and almost immediately the market revalued the company and declared success probably down the road for disney's approach right here you are seeing exactly the opposite here when it comes to cbs/viacom, trading at less than half of the market valuation, people treating these companies as essentially orphaned or doomed in the new world. whether it is true or not, it is very interesting it is almost game over in the market's view as to disney versus the rest of the industry, guys. >> okay. mike, great stuff. thanks ve

i reported earlier this week that vice had been making overtures to cbs/viacom and to shari redstone probably not the greatest time to do that but the deal would make a lot of sense. it's a private company and would bring a lot of millenial eye balls to cbs and viacom which excuse old on the cbs side and young on the viacom side so that's something that could be in their crosshairs despite bob backish saying he's not interested i think that's shari's call in the end. i also think discovery communications is a natural fit with this combination once it gets down the road it's all about shari trying to get out. she needs to get out, so she needs somebody who's attracted by the bulk and the power and the range of a newly designed cbs/viacom >> well, let's see if we get a deal first you're ten steps ahead of them bill, thank you for joining us >> and happy birthday day after birthday to both you guys. >> oh, thank you that's so nice i guess we publicized it very well bill, thanks >>> still ahead, the trade factors. i sat down with the ceo of adidas and got his take on the how the u.s./chi

another perspective of course tomorrow morning, the ceo of the combined cbs-viacom -- viacom-cbs on cnbc tomorrow at 8:40 a.m. on "squawk on the street." >>> shares of tilray are down about 3% right now at the moment the revenues, it was a beat, 45.9 million versus 41.1 million that analysts had modelled however, on the bottom line there was the company reporting an adjusted loss of 32 cents versus a loss expected of 25 cents. the company says that as far as the top line growth that was driven by the manitoba harvest acquisition. the legalization of the canadian adult use market and we know that adult use has increased in canada due to more stores online as well as the growth of international markets. as far as other metrics, kilo sold more than triple and gross margins increased from 23 to 27%. the company says the increase in growth margins was impacted by increased costs with the ramping up of cultivation facilities in canada and portugal and acquiring third party supplies so some investment costs there putting some pressure on the margins. also the company says under business highlig

cash generated but a to be that's down four, five points today, i think the combination of cvs and viacom and the pullback in the market, we think that provides a good opportunity. they're a director in the z, on a global basis those are the issues independence of that, i think you have a very good opportun y opportunity. >> i'm speaking with how cheap cvs is, i'm saying direct to the consumer on a global basis 7.5 billion sets of eyeballs 4 billion-plus phones. netflix has 150, maybe 160 million customers our house december hold plays like 1300 a month, in the case of some other cvs, you give the consumer what they said. those are simp issues, but you have to focus on them. that they broke apart 13, 14 years ago for different reasons, different world, and we think it would work quite well for the owners, and will they do other things yet. this is just the beginning of a lot of dynamics going on and there are pluses and minuses all the time >> is media and check, when you see something like that -- >> no, no, no. we are having our on 26th conference on commercial and military aviation in

cbs and viacom have become smaller than these new media companies but combined at $50 billion they've now got at least more scale to be able to compete with people like disney and comcast. you could see further consolidation. >> when we consider the weakness of the europe economy, brexit coming up and the associated currency weakness why haven't there been more cross border deals? >> you rarely see currency movements drive m and a and for the most part companies that are defdominated in sterling, so whn they go down do does the revenue and earnings it's not always the case but it doesn't drive activity as much as you think people tend to take a much longer term of view and given the deal you can't price a deal and close it the same day you're still throughout the pendency. >> have you seen cold water thrown on deal making between china and the u.s. >> the deals between the u.s. and china are down dramatically. i think deals in the technology sector it's going to be hard for them to get done between the u.s. and china and other than regular anti trust overlays on transactions there's b

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

site permian is the larger driver and firm says their investors should take note of the recent cbs viacom merger and newly formed company interest in stars which lions gate did acquire in 2016 maybe an m and a play there. wanted to ask you about energy because it is a standout performer higher today up 2.7%. but it feels like this one got very unloved the sector. >> unloved, you're understating it despised it has been a horrific underperformer, not just for one year or month but for several years. return on equity has been way below the rest of the market they need to get it -- management has been talking about it, but they have to show the discipline permian, they actually got undisciplined. so they have to return cash and prove that they are doing it i think the stocks are interesting. relative discounts is remarkable if you look at history so there is opportunity. >> doesn't suggest that maybe there is a broken business model or something, or that future returns in energy can never be what they were >> probably true for a lot of reasons as well. industrial vehicles using less gasoline,