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Speaker 1: Bloomberg, Audio, Studios, podcasts, radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Lisa Matteo. Here

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Speaker 2: are the top stories we're following today.

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Speaker 3: Lisa, we begin with exclusive Bloomberg News reporting on what

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Speaker 3: could be one of the biggest media deals in history.

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Speaker 3: Sources tell us Warner Brothers Discovery has entered exclusive negotiations

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Speaker 3: to sell its film and TV studios and HBO Max

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Speaker 3: streaming service to Netflix. The streaming giant is offering a

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Speaker 3: five billion dollar breakup fee if regulators don't approve the deal.

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Speaker 3: Man well by Gory is a deal's reporter for Bloomberg.

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Speaker 4: It would be.

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Speaker 5: Definitely the biggest ever deal by Netflix. They've never done

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Speaker 5: a deal of this magnitude, and he will also be

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Speaker 5: very very consequential for competitors take Paramount, WALDISNI and others

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Speaker 5: that are also growing in these fields. Surprise also to

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Speaker 5: see a potential five billion dollar breakup fee. That is

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Speaker 5: quite remarkable and perhaps one of the reasons why Netflix

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Speaker 5: seems to be, according to our sources, pulling ahead of

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Speaker 5: the game.

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Speaker 3: Year Man Bloomberg's men, while by goryads the two companies

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Speaker 3: could announce the deal and as soon as the coming days.

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Speaker 2: Breaking news and geopolitics. This morning, Nathan, the US lobbied

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Speaker 2: several countries in the European Union in an effort to

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Speaker 2: block EU plans to use frozen Russian Central Bank assets

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Speaker 2: to back up massive loan to Ukraine. That's according to

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Speaker 2: European diplomats that are familiar with the matter. We get

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Speaker 2: more from Bloomberg, Stephen Carroll and Brussels.

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Speaker 6: Yeah, well, this is are aborting telling us that the

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Speaker 6: US officials have been arguing to individual countries in the

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Speaker 6: European Union that the frozen Russian assets shouldn't be used

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Speaker 6: to support Ukraine. This is a key plan that's been

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Speaker 6: under negotiation in the EU for some time now. Earlier

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Speaker 6: this week we had the proposal from the EU which

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Speaker 6: was meant to be either using these frozen Russian assets,

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Speaker 6: I mean they haven't been able to get agreement with

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Speaker 6: the moment member states, or to use alone backed by

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Speaker 6: the EU's own resources, to try and support Ukraine instead,

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Speaker 6: knowing full well that would be politically very difficult to

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Speaker 6: get agreement on as well. It was meant to exert

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Speaker 6: pressure on Belgium, one of the key holdout countries, for

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Speaker 6: the use of those frozen Russian assets Blilberg.

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Speaker 2: Stephen Carroll notes that the discussions come at a critical

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Speaker 2: time for Ukraine, with the US pressuring Kiev to agree

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Speaker 2: to a potentially lopsided peace deal with Russia the LISA.

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Speaker 3: This comes as India's Prime Minister Narendra Modi and Russian

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Speaker 3: President Vladimir Putin hold a bilateral meeting in New Delhi.

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Speaker 3: The two leaders are looking to deepen their economic cooperation

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Speaker 3: in the face of pressure from President Trump. Putin's making

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Speaker 3: his first trip to India since Russia's full scale invasion

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Speaker 3: of Ukraine to showcase the long standing partnership dating back

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Speaker 3: to the Cold War. Ties with India have centered on defense,

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Speaker 3: but Mody and Putin wanted broaden cooperation to include deeper trade, migration,

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Speaker 3: and economic links.

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Speaker 2: Turning to Washington now, Nathan President Trump's standing by Defense

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Speaker 2: Secretary Pete Seth after a string of recent controversies, among

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Speaker 2: them a second strike on a suspected drug running boat

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Speaker 2: in the Caribbean that killed survivors of the initial attack.

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Speaker 2: The admiral who gave the order, Frank Bradley, was on

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Speaker 2: Capitol Hill yesterday telling lawmakers he was not ordered to

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Speaker 2: kill everyone on board. Republican Senate Intelligence Chairman Tom Cotton

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Speaker 2: spoke after the classified briefing.

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Speaker 7: I saw two survivors trying to flip a boat loaded

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Speaker 7: with drugs down for the United States back over so

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Speaker 7: they could stay in the fight.

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Speaker 2: But Adam Smith, the top Democrat on the House Armed

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Speaker 2: Services Committee, says he's not convinced those survivors still pose

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Speaker 2: a threat.

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Speaker 3: Two people without their shirts on on top of the

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Speaker 3: bow of a capsized boat as a tiny little portion

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Speaker 3: of the boat that was above the water, and they were.

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Speaker 2: There, just there along with the strike order. A Pentagon

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Speaker 2: Inspector General's report found Defense Secretary Hegseth could have compromised

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Speaker 2: sensitive information by using his personal cell phone in a

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Speaker 2: signal chat about Yemen attack plans.

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Speaker 3: Well elsewhere in the nation's capital, Lisa, A divided Supreme

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Speaker 3: Court has cleared Texas to use a new Republican drawn

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Speaker 3: congressional map in next year's election. Over three decents, the

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Speaker 3: justices lifted a lower court ruling that blocked the map.

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Speaker 3: It was drawn at President Trump's behest to help Republicans

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Speaker 3: try to keep their House majority in the next year.

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Speaker 3: Although the order formally applies only until the Justices resolve

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Speaker 3: Texas's appeal. The court suggests it will ultimately rule in

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Speaker 3: the States favor well.

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Speaker 2: Virginia man has been charged with placing pipe bonds outside

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Speaker 2: Republican and Democratic National Committee headquarters in Washington on the

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Speaker 2: eve of January sixth, twenty twenty one. Riot it's capping

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Speaker 2: a five year federal investigation. Attorney General Pam Bondi announce

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Speaker 2: the charges in a news conference.

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Speaker 8: He has been charged with violating eighteen USC. Eight forty four,

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Speaker 8: which is use of an explosive device. This investigation is

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Speaker 8: ongoing as we speak. Search warrants are being executed and

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Speaker 8: there could be more charges to come.

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Speaker 2: Attorney General Pam Bonnie identify the suspect as Brian Cole,

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Speaker 2: Junior of Woodbridge, Virginia. Cole was arrested earlier yesterday by

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Speaker 2: the FBI.

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Speaker 3: Turning to the economy and the FED now, LISA National

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Speaker 3: Economic Council Director Kevin Hassett says the Federal Reserve should

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Speaker 3: cut interest rates at its meeting next week. Hassett was

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Speaker 3: asked on Fox News if he thinks the Federal Open

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Speaker 3: Market Committee will cut.

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Speaker 7: Rights if you look at the communications from the FED

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Speaker 7: governors and some of the regional presidents. They now seem

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Speaker 7: much more like they're leaning in the direction of a

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Speaker 7: rate cut, which.

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Speaker 2: Is I believe the right and how much would you

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Speaker 2: like it to be?

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Speaker 7: You know, in the long run, we've got to get

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Speaker 7: to a much lower rate. If there's consensus around twenty

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Speaker 7: five basis points, which it looks like there is, then

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Speaker 7: I'll take it.

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Speaker 3: Yeah, that was White House Economic Advisor Kevin Hassett speaking

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Speaker 3: on Fox News.

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Speaker 2: Well, someone else would also like to see a rate

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Speaker 2: cut by the Fed. Naden. That's Bank of America CEO

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Speaker 2: Brian moynihan. He spoke with Bloomberg's Francine Lacuah.

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Speaker 9: Would a FED cut help?

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Speaker 10: A FED cut helps? Our team believes if FED will

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Speaker 10: cut next week, they came to it slowly because the

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Speaker 10: inflation is still higher than the target rates that the

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Speaker 10: FED would have. It's sticky and it's sticky. Although right

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Speaker 10: when they started raising rates, people told me it takes

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Speaker 10: five years to actually squeeze out inflation, and people just

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Speaker 10: aren't patient.

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Speaker 4: Well.

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Speaker 2: Bank of America CEO Brian moynehead added that his team

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Speaker 2: thinks long term, the FED will get down to a

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Speaker 2: three percent FED funds rate well.

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Speaker 3: The S and B five hundred lisa is on track

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Speaker 3: for a new all time high as investors tilt toward

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Speaker 3: risk on growing confidence in the economy and the prospect

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Speaker 3: of rate cuts. Futures are within a half percent of

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Speaker 3: a fresh record. In the commodities market, Copper is at

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Speaker 3: a record, giving fresh impetus by a bullish price outlook

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Speaker 3: from City Group. Traders there anticipate a shortage caused by stockpiling.

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Speaker 11: In the US.

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Speaker 3: Copper rows as much as one point nine percent to

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Speaker 3: more than eleven six hundred dollars a ton, that surpassed

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Speaker 3: a previous high set just this week Oliver.

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Speaker 2: In company news, Hewlett Packard Enterprise shares are down eight

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Speaker 2: percent stand in pre market as after the company gave

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Speaker 2: an outlook for sales in the current quarter that fell

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Speaker 2: short of high expectations for the AI server business. Sales

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Speaker 2: in the fiscal fourth quarter missed. Analyst Estimas says some

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Speaker 2: deals for servers to power artificial intelligence workloads were pushed

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Speaker 2: into twenty twenty six.

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Speaker 3: And Meta Platforms has confirmed its plans to meaningfully cut

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Speaker 3: resources for building the so called metaverse, an effort that

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Speaker 3: CEO Mark Zuckerberg once framed as the future of the

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Speaker 3: company and the reason he changed its name from Facebook.

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Speaker 3: Meta executives are considering potential budget cuts as high as

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Speaker 3: thirty percent for metas Metaverse next year.

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Speaker 2: Time now for a look at some of the other

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Speaker 2: stories making news in New York and around the world.

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Speaker 2: For that were joined by Bloomberg's Michael barg Morning, Michael.

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Speaker 11: Good Morning, Lisa. Federal grand jury in Virginia has refused

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Speaker 11: to indict New York State Attorney General Letitia James for

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Speaker 11: a second time over mortgage fraud claims. Prosecutors had sought

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Speaker 11: charges against Aimes less than two weeks after a federal

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Speaker 11: judge dismissed the earlier case, saying that Lindsay Halligan, the

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Speaker 11: US Attorney for the Eastern District of Virginia, had been

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Speaker 11: improperly appointed. The James charges against her, as she put it,

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Speaker 11: are baseless and called for an end to the unchecked

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Speaker 11: weaponization of our justice system. Bondo Lob heading outside this morning. Oooh,

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Speaker 11: there is a shivering cold in the northeast and some

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Speaker 11: snow from the Great Lakes to the Pacific Northwest. Bloomberg

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Speaker 11: Media relagis Craig Allen has the.

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Speaker 12: Latest unseasonable cold continues to pour down out of Canada

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Speaker 12: and with January like chills over more than fifty percent

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Speaker 12: of the eastern US, and the actual readings are as

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Speaker 12: low as single digits and below zero in the plains

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Speaker 12: in the upper Midwest and as low as minus thirties

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Speaker 12: north of the border. And as for snow, there is

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Speaker 12: a storm tracking towards the mid Atlantic coast bringing snow

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Speaker 12: in winter weather advisories from Kentucky to Virginia and up

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Speaker 12: towards DC. One to three inches of snow will accumulate

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Speaker 12: on all untreated surfaces.

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Speaker 11: Bloomberg Media religis Craig Allen. New York City Mayor Eric

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Speaker 11: Adams issued executive orders aimed at addressing anti Semitism, including

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Speaker 11: one prohibiting city agency heads from engaging in procurement practices

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Speaker 11: that discriminate against the state of Israel. Adams recently returned

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Speaker 11: from a trip to Israel. President Trump and First Lady Milania,

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Speaker 11: who lit the National Christmas Tree at the White House.

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Speaker 11: During brief remarks, President Trump delivered a message of peace

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Speaker 11: and thanked first responders, police, ice and service members.

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Speaker 9: Thank you to the men and women of the United

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Speaker 9: States military, including the brave hears of our National Guard

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Speaker 9: here in Washington, d C.

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Speaker 11: The event also featured performances from The Beach Boys, Christian

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Speaker 11: music singer Matthew West, and country artist Gabby Barrett. Global

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Speaker 11: News twenty four hours a day and whenever you want

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Speaker 11: it with Bloomberg News Now. Michael Barr. This is Bloomberg Lisa.

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Speaker 2: Thanks Michael. Time now for our Bloomberg Sports Update, and

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Speaker 2: for that we bring in John stash Hour.

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Speaker 9: A big game in the NFC, the Cowboys and Lions

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Speaker 9: hoping to make the playoffs. Detroit never trailed and the

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Speaker 9: game that had seven touchdowns and eight field goals. The

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Speaker 9: Lions won forty four to thirty. They were up by

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Speaker 9: eighteen in the second half. Dallas cut that lead to three,

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Speaker 9: but Jamier Gibbs with two fourth quarter touchdowns. He had

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Speaker 9: three in the game. The Lakers with a three point

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Speaker 9: win in Toronto. Lebron James scored only eight points. It

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Speaker 9: was the first time since two thousand and seven that

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Speaker 9: he was held to single figures as a streak lasting

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Speaker 9: almost thirteen hundred games at the Bloomberg Sports Update.

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Speaker 3: Stay with us more from Bloomberg Daybreak coming up.

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Speaker 9: After this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business opp This is Bloomberg Daybreak.

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Speaker 3: Good Morning on Nathan Hager and The bid war over

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Speaker 3: one of Hollywood's most storied movie and TV studios may

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Speaker 3: be over, sources tell Bloomberg News. Netflix has entered exclusive

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Speaker 3: talks to buy Warner Brothers Discoveries film and TV studios

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Speaker 3: and the HBO Max streaming service, pulling ahead in a

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Speaker 3: race with paramount, sky Dance and Comcast. For the very latest,

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Speaker 3: we were joined by Bloomberg Deal's reporter Manuel by gory Man. Well,

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Speaker 3: thanks for being with us. I mean, this bidding war

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Speaker 3: had the makings of a soap opera. How did Netflix

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Speaker 3: come out on top?

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Speaker 4: Definitely, definitely a soap opera or who knows, maybe a

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Speaker 4: Netflix show down there. It's been fascinating to observe and

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Speaker 4: to report on it. You know, very very well known

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Speaker 4: brand companies all around the world, and you know, it's

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Speaker 4: pretty remarkable that we are approaching the final stages as

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Speaker 4: the year comes to an end, and these could be

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Speaker 4: very transformative for the entertainment industry. Not just in the US,

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Speaker 4: but globally given the sheer size of these companies. So

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Speaker 4: it's just a matter of days before we might see

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Speaker 4: a resolution to these sale poscess that has kept advisors

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Speaker 4: and dealmakers very very busy over the Thanksgiving break and

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Speaker 4: we are now very close to an end, so very

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Speaker 4: very much looking forward to it. Netflix is pulling ahead.

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Speaker 4: They're offering a five billion dollar breakup fee that is

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Speaker 4: really remarkable. Now remains to be seen also if they

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Speaker 4: get designed and announced, whether it will get past regulators,

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Speaker 4: that is the next big question mark as well.

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Speaker 3: Yeah, I mean, just the fact that we see that

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Speaker 3: sizeable breakup fee. Is this the kind of thing that

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Speaker 3: could face an anti trust challenge or a continued challenge

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Speaker 3: from Paramount Skydance, which it really made clear that they

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Speaker 3: wanted the company.

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Speaker 4: Yeah, it's a really good point. I mean, there is

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Speaker 4: going to be a serious look from regulators how these

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Speaker 4: impact consumers. At the end of day, Netflix is already

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Speaker 4: such a big name, such a house name, such a

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Speaker 4: big company. Now adding more assets into an HBO max

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Speaker 4: among them, It's definitely gonna attract the interest from regulators.

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Speaker 4: I mean, But the same if Paramount or Comcasts were

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Speaker 4: also to require I mean, the industry is quite consolidated

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Speaker 4: at the end of the day, so regulators are going

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Speaker 4: to take a close look. But perhaps the fact that

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Speaker 4: Netflix is offering such big breakup fee also indicates their

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Speaker 4: eagerness to try to get this across. The line is

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Speaker 4: a very important asset as the company tries to keep growing,

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Speaker 4: find new sources of revenue, and diversify, which is not

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Speaker 4: easy because they're already a very large organization already.

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