September 19, 2025 • 15 mins
On today's podcast:
1) The president threatens TV networks that criticize him after Jimmy Kimmel's suspension. President Trump has said US broadcast networks should face scrutiny over their licenses if they're too critical of him, and media executives and academics say companies are "bending to the will" of Trump's administration, making media companies look like state-run outlets.
2) The call between President Trump and Chinese President Xi Jinping may determine the fate of TikTok and potentially ease trade tensions between the two countries. Trump and Xi are due to discuss a framework agreement to shift control of TikTok's US operations from its Chinese parent ByteDance to a consortium of American investors.
3) President Trump has asked the US Supreme Court to let him fire Federal Reserve Governor Lisa Cook while she fights his attempt to oust her. The Justice Department asked the court to at least temporarily pause a Washington federal judge’s ruling that has allowed Cook to remain in her position for now.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
Good Morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today, Karen.
Speaker 2 (00:15):
The Walt Disney Company's decision to take ABC's Jimmy Kimmel
Live off the air continues to make waves. The late
night show was suspended indefinitely this week after the comedian
joked about Republicans' reaction to conservative activist Charlie Kirk's death. Now,
President Trump says the Federal Communications Commission should look into
the licenses of broadcast networks, he says are too critical
(00:38):
of him.
Speaker 4 (00:39):
When you have a network and you have evening shows,
and all they do is it Trump. That's all they do.
If you go back, I guess they haven't had a
conservative going in years or something somebody said. But when
you go back to kick a look, all they do
is a jump the license.
Speaker 5 (00:58):
They're not allowed to do that, your.
Speaker 4 (01:00):
Arm of the Democrat Party.
Speaker 2 (01:02):
President Trump spoke aboard Air Force one on his way
back from the UK. He suggested that NBC should fire
its late night hosts, Jimmy Fallon and Seth Myers. Next,
Fallen addressed Jimmy Kimmel's suspension on last night's Tonight Show.
Speaker 5 (01:16):
This morning, I woke up to one hundred text messages
for my dad saying I'm sorry they canceled your show.
Speaker 3 (01:20):
Hyo, do not me.
Speaker 6 (01:22):
That's Jimmy Kimmel.
Speaker 2 (01:23):
Jimmy Fallon says Kimmel is a decent, funny and loving guy,
and he hopes he comes back. Sources tell Bloomberg News
Disney executives met with Kimmel last night to discuss the
future of his show. They say, the soonest it could
come back on the air is this Monday.
Speaker 3 (01:37):
Well, Nathan, Let's turned out to the latest on US
China relations. President Trump's call withach Chinese President Xijin Ping
will be the first direct engagement between the two leaders
since June. The future of Taktalk is expected to top
the agenda. On Bloomberg's Amy Morris has a preview from Washington.
Speaker 7 (01:53):
Negotiators from both countries reached a framework deal earlier this
week to preserve the US operations of to Talk under
a national security law. President Trump says there's value in
TikTok and he doesn't want to give away value.
Speaker 4 (02:07):
Speaking to President Shield to see if we can finalize
something on TikTok because there is tremendous value and I
hate to give away value, but I like TikTok. I
it helped get me elected.
Speaker 7 (02:17):
She and Trump are also expected to discuss a tariff
truce after tit for tat tariffs earlier this year spooped
the markets. The call is a watershed moment for both
sides and will be watched closely for any indication on
whether Trump and She agree to hold their first in
person meeting since Trump returned to office in Washington. Amy
Morris Bloomberg Radio.
Speaker 3 (02:37):
Amy, thank you, and the call is kittled to happen
at nine am Wall Street Time.
Speaker 2 (02:41):
And that call Karen comes just a day after President
Trump's historic second state visit to the UK. The President
signed a new tech partnership that includes more than three
hundred billion dollars in bilateral investments from the likes of
Microsoft and Open Ai, and at a joint news conference
with UK Prime Minister Keir Starmer, the President expressed this
appointment over the war in Ukraine.
Speaker 4 (03:02):
The one that I thought would be easiest would be
because of my relationship with President Putin, but he's let
me down. He's really let me down.
Speaker 2 (03:10):
President Trump also showed mild disagreement with Prime Minister Starmer
over the war in Gaza. The President says he does
not support Starmer's decision to recognize a Palestinian state at
next week's UN General Assembly.
Speaker 3 (03:21):
Meanwhile, Nathan US law enforcement is building a profile on
suspected Charlie Kirk shooter Tyler Robinson that includes his use
of President Trump's name as a pseudonym on Valve's Steam
video game platform. Serves to say the Secret Service has
joined the investigation into the shooting, even though Kirk was
not under the agency's protection. And turning point USA, the
(03:43):
organization Charlie Kirk founded to mobilize young Conservatives, says Kirk's wife, Erica,
will serve as its next CEO.
Speaker 2 (03:50):
Beck in Washington, Karen. The Trump administration is now asking
the Supreme Court to allow President Trump to remove FED
Governor Lisa Cook. We get more from Bloomberg Economic correspondent
Michael McKee.
Speaker 6 (04:02):
Basically, they are refiling the same cases they filed in
district court and then at the US Appeals Court, arguing
that the president has the unreviewable right to fire anybody
for cause, and cause is whatever he deems it to be,
which the district court judge rejected, but the appeals court
didn't address that.
Speaker 2 (04:23):
That's Bloomberg's Mike McKee. President Trump has said his cause
to fire Cook is alleged mortgage fraud. Cook denies any
wrongdoing and remains at the FED after lower courts blocked
her rouster.
Speaker 3 (04:34):
Let's turn to the markets now. Nathan Stock setted records
as we close out the trading week. The Dow s
and P five hundred, NASDAK, and Russell two thousand all
begin the session at all time highs. Is a rare
feet that's occurred on just twenty five other days this century.
Aaron Kennon is CEO of Clear Harbor Asset Management.
Speaker 8 (04:52):
Certainly, valuations are not cheap. We we're trading at sort
of top quartile levels and most equity and this, and
yet we also know that elevated valuations do not always
or never really augur bear markets. Usually there's some economic
shock that ensues.
Speaker 3 (05:11):
Clear Harbor Asset Management's Aaron Kennin it's the first time
since November twenty twenty one that all four major benchmarks
closed together at all time.
Speaker 2 (05:19):
Highs this morning, Karen, we're watching shares of FedEx. They
are up four and three quarters percent in early trading.
The parcel company reinstated its profit and sales forecast, says
revenue will grow by four to six percent in the
current fiscal year that top Wall Street estimates. FedEx also
says it expects a billion dollar hit from trade volatility
this year due to President Trump's tariffs and the loss
(05:42):
of a key exemption for low value goods.
Speaker 3 (05:45):
Nathan Apple is releasing new iPhone designs, including the iPhone
seventeen Pro, Promax, and iPhone Air, as well as new
Apple Watch and air pods models. Today. Early sales across
Asia showed strong demand for the Pro model. The new
iPhone models feature redesigned elements such as an aluminum shell
and a thin shape for the iPhone Air andenter price
(06:08):
from nine hundred and ninety nine dollars to one ninety nine.
Speaker 2 (06:11):
And we have some monetary policy news out of Asia
this morning, Karen, the Bank of Japan has kept its
interest rate steady. Boj also took another step toward policy normalization,
announcing it will start to offload its massive exchange traded
fund holdings.
Speaker 3 (06:29):
Time now for a look at some of the other
stories making news in New York and around the world,
and for that we're joined by Bloomberg's and Michael Barr Michael,
good Morning.
Speaker 9 (06:36):
Good Morning, Karen. A protestover conditions at a Manhattan immigration
holding facility led dozens of arrests, including at least eleven
elected officials. The officials included Comptroller Brad Lander, public Advocate
Jamani Williams, and State Senator Julia Salazar. The government building
is home to several federal offices, including Immigration Court and
(06:58):
the FBI's New York Field office. According to advocates, several
officials were arrested inside the building while attempting to inspect
holding rooms amid allegations of squalid conditions and overcrowding. We're
learning more about the shooting deaths of three Pennsylvania police officers.
A prosecutor says a suspected stalker armed with a rifle
(07:20):
hid inside his ex girlfriend's home and ambushed officers who
came to serve him a warrant Wednesday. York County District
Attorney Tim Barker said during a news conference yesterday that
the officers opened the door and the suspect immediately opened
fire on them. Using an ar style rifle.
Speaker 10 (07:38):
Detective Sergeant Cody Becker, Detective Mark Baker, and Detective Isaiah
Emonheiser were all killed following the brutal ambush that was
committed upon them by the actor.
Speaker 9 (07:51):
DA Tim Barker says two other officers were wounded. The
shooter was killed after a gunfight. Barker says that the
incident involved a domestic violence. New York Mayor Eric Adams
says his city is prepared for the eightieth United Nations
General Assembly, which opens next week. Adams says security will
be increased amid national and global threats.
Speaker 11 (08:13):
At this time, there are currently no know specific or
credible threats against the United Nations, but our past is
elevated out of an abundance of caution given the global environment.
Speaker 9 (08:27):
About two hundred diplomats from around the world will descend
on the city Global news twenty four hours a day
and whenever you want it with the Bloomberg News. Now,
I'm Michael Barr, and this is Bloomberg Karen.
Speaker 3 (08:40):
Thanks Michael. All time now for our Bloomberg Sports updating.
For that, we bring in John stash Hour.
Speaker 12 (08:46):
Thanks Karen Thurs about football. To start week three, the
Bills got three touchdown passes from Josh Allen beat the
Dolphins thirty one to twenty one. Buffalo is three and zero,
Miami is zero to three. Clayton Kershawn, at age thirty
seven and eight eighteen season all with the Dodgers, announced
that he's retiring at seasons and his last home at
least regular season start will be tonight at Dodgers Dadium,
(09:08):
where last night Dodgers beat the Giants two to one.
Giants had only one hit. That's a Bloomberg Sports update.
Speaker 3 (09:15):
Stay with us. More from Bloomberg day Break coming up after.
Speaker 1 (09:19):
This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 2 (09:34):
Good morning, I'm Nathan Hager. President Donald Trump is ramping
up his pressure campaign against major media organizations once again.
Following ABC's suspension of late night hosts Jimmy Kimmel. The
President says the FCCS should consider revoking the licenses of
broadcast networks he deems too critical.
Speaker 4 (09:51):
They're getting a license. I would think maybe their license
should be taken away. It will be up to Brendan Carr.
Speaker 2 (09:59):
That was President Trump speaking aboard Air Force One on
his way back from his state visit to the UK.
And this morning we're joined by Bloomberg's Rosalind Mathieson and Roz.
Of course, we know the President has a long history
of putting legal pressure on media organizations, so that this
seems to take things to a whole new level.
Speaker 5 (10:15):
Good morning, Good morning, And yeah it does. I mean,
there are several layers of this is obviously the individual
impact on Kimmel in all of this on his show.
There's the potential, you know, death, someone would say of
the late night talk show format, because those shows tend
to be robust in their commentary around everything, including politics.
Speaker 3 (10:36):
But then more.
Speaker 5 (10:37):
Broadly, there's a question of tying the behavior of TV
networks to politics. And you know, the FCC has long
had these powers over licenses and the ability to make
changes to licensing and take licenses away even but they've
really tended not to use it, or certainly not in
(10:59):
these circumstances. And the very clear endorsement from Donald Trump
of the FCC criticism that came of Kimmel and his commentary,
and we saw the swift repercussions from that with his
show being taken off the air. There's a direct line
now between what Trump wants to see TV networks producing
and what they may feel that they can produce with
(11:20):
the thing that's hanging over their heads, and all of
that is the question of their license. So do we
see big changes in behavior as a result, and what
does that mean in the end for the concepts of
networks being able to air footage or commentary that is
critical of a government and certainly of a sitting president,
(11:41):
and so some very big precedents potentially being up for
grabs and all of.
Speaker 2 (11:45):
This, and there's still the question, isn't there rise about
whether the decision by the Disney owned network to suspend
Kimmel was a business decision or whether it was directly
related to the pressure that we saw this week from
FCC Chairman Brendan Carr.
Speaker 7 (12:02):
Well, that's right.
Speaker 5 (12:03):
It's interesting to see this example and obviously the previous
example involving Stephen Colbert, and whether you know, these came
at a time that these companies were also having big
deals or needing endorsement of certain changes in their company's behavior,
and for certainly the biggest producer, are the biggest owner
rather of local TV stations in the US. You know,
(12:25):
they have a deal before the FCC that they want
done an acquisition and they need FCC clearance for that.
And so you know, was there an impact in their
thinking in the minute because they know that they need
the FCC on their side to say that they were
going to pull his show from their networks at least,
(12:45):
and we can see that previously. And so if you
do need the government or regulators to support you, are
you going to start making these decisions regardless of the
ratings of the of the show involved or the money involved,
because you do need that broader relationship to stay intact.
Speaker 2 (13:04):
Of course, later this morning, the coverage of President Trump
is going to continue with the phone call later this
morning with Chinese President shi Jinping. So many layers there
as well, including one involving new media. What's going to
happen to TikTok, Well, that.
Speaker 5 (13:18):
Is the big question. It does seem as though they've
got to a bit of a framework on TikTok going
into this conversation. Some of the details are still very unclear,
but basically, you will end up in a situation where
byte Edance's state drops to twenty percent or less and
a group of American companies, three of them come in
and take majority control. That includes, of course Oracle. The
(13:40):
question is what happens to all the proprietary technology involved
in that. For byte Dance their algorithm. Do they basically
set up a new platform for TikTok users in the
US and port everybody over, But you still need Byteedance
in their technology to do so, to help building it
at least, So how do you ring fence then US
(14:00):
users of TikTok, And that's been a key concern obviously
in the US politically is to do that. But byte
Dance obviously wants to still preserve its technology. So there
are some sort of slightly murky areas still in this
deal to be understood. But we'll hopefully hear more today
after seeing Trump talk and then presumably will come out
and announce more details of the deal.
Speaker 3 (14:23):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 2 (14:30):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or manywhere else you listen.
Speaker 3 (14:36):
You can also listen live each morning, starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 7 (14:51):
Plus.
Speaker 2 (14:51):
Listen coast to coast on the Bloomberg Business App now
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Speaker 3 (14:57):
And don't forget to subscribe to Bloomberg and News Now.
It's the latest news whenever you want it in five
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podcast platform to stay informed all day long. I'm Karen Moscow.
Speaker 2 (15:10):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Daybreak
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
Good Morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today, Karen.
Speaker 2 (00:15):
The Walt Disney Company's decision to take ABC's Jimmy Kimmel
Live off the air continues to make waves. The late
night show was suspended indefinitely this week after the comedian
joked about Republicans' reaction to conservative activist Charlie Kirk's death. Now,
President Trump says the Federal Communications Commission should look into
the licenses of broadcast networks, he says are too critical
(00:38):
of him.
Speaker 4 (00:39):
When you have a network and you have evening shows,
and all they do is it Trump. That's all they do.
If you go back, I guess they haven't had a
conservative going in years or something somebody said. But when
you go back to kick a look, all they do
is a jump the license.
Speaker 5 (00:58):
They're not allowed to do that, your.
Speaker 4 (01:00):
Arm of the Democrat Party.
Speaker 2 (01:02):
President Trump spoke aboard Air Force one on his way
back from the UK. He suggested that NBC should fire
its late night hosts, Jimmy Fallon and Seth Myers. Next,
Fallen addressed Jimmy Kimmel's suspension on last night's Tonight Show.
Speaker 5 (01:16):
This morning, I woke up to one hundred text messages
for my dad saying I'm sorry they canceled your show.
Speaker 3 (01:20):
Hyo, do not me.
Speaker 6 (01:22):
That's Jimmy Kimmel.
Speaker 2 (01:23):
Jimmy Fallon says Kimmel is a decent, funny and loving guy,
and he hopes he comes back. Sources tell Bloomberg News
Disney executives met with Kimmel last night to discuss the
future of his show. They say, the soonest it could
come back on the air is this Monday.
Speaker 3 (01:37):
Well, Nathan, Let's turned out to the latest on US
China relations. President Trump's call withach Chinese President Xijin Ping
will be the first direct engagement between the two leaders
since June. The future of Taktalk is expected to top
the agenda. On Bloomberg's Amy Morris has a preview from Washington.
Speaker 7 (01:53):
Negotiators from both countries reached a framework deal earlier this
week to preserve the US operations of to Talk under
a national security law. President Trump says there's value in
TikTok and he doesn't want to give away value.
Speaker 4 (02:07):
Speaking to President Shield to see if we can finalize
something on TikTok because there is tremendous value and I
hate to give away value, but I like TikTok. I
it helped get me elected.
Speaker 7 (02:17):
She and Trump are also expected to discuss a tariff
truce after tit for tat tariffs earlier this year spooped
the markets. The call is a watershed moment for both
sides and will be watched closely for any indication on
whether Trump and She agree to hold their first in
person meeting since Trump returned to office in Washington. Amy
Morris Bloomberg Radio.
Speaker 3 (02:37):
Amy, thank you, and the call is kittled to happen
at nine am Wall Street Time.
Speaker 2 (02:41):
And that call Karen comes just a day after President
Trump's historic second state visit to the UK. The President
signed a new tech partnership that includes more than three
hundred billion dollars in bilateral investments from the likes of
Microsoft and Open Ai, and at a joint news conference
with UK Prime Minister Keir Starmer, the President expressed this
appointment over the war in Ukraine.
Speaker 4 (03:02):
The one that I thought would be easiest would be
because of my relationship with President Putin, but he's let
me down. He's really let me down.
Speaker 2 (03:10):
President Trump also showed mild disagreement with Prime Minister Starmer
over the war in Gaza. The President says he does
not support Starmer's decision to recognize a Palestinian state at
next week's UN General Assembly.
Speaker 3 (03:21):
Meanwhile, Nathan US law enforcement is building a profile on
suspected Charlie Kirk shooter Tyler Robinson that includes his use
of President Trump's name as a pseudonym on Valve's Steam
video game platform. Serves to say the Secret Service has
joined the investigation into the shooting, even though Kirk was
not under the agency's protection. And turning point USA, the
(03:43):
organization Charlie Kirk founded to mobilize young Conservatives, says Kirk's wife, Erica,
will serve as its next CEO.
Speaker 2 (03:50):
Beck in Washington, Karen. The Trump administration is now asking
the Supreme Court to allow President Trump to remove FED
Governor Lisa Cook. We get more from Bloomberg Economic correspondent
Michael McKee.
Speaker 6 (04:02):
Basically, they are refiling the same cases they filed in
district court and then at the US Appeals Court, arguing
that the president has the unreviewable right to fire anybody
for cause, and cause is whatever he deems it to be,
which the district court judge rejected, but the appeals court
didn't address that.
Speaker 2 (04:23):
That's Bloomberg's Mike McKee. President Trump has said his cause
to fire Cook is alleged mortgage fraud. Cook denies any
wrongdoing and remains at the FED after lower courts blocked
her rouster.
Speaker 3 (04:34):
Let's turn to the markets now. Nathan Stock setted records
as we close out the trading week. The Dow s
and P five hundred, NASDAK, and Russell two thousand all
begin the session at all time highs. Is a rare
feet that's occurred on just twenty five other days this century.
Aaron Kennon is CEO of Clear Harbor Asset Management.
Speaker 8 (04:52):
Certainly, valuations are not cheap. We we're trading at sort
of top quartile levels and most equity and this, and
yet we also know that elevated valuations do not always
or never really augur bear markets. Usually there's some economic
shock that ensues.
Speaker 3 (05:11):
Clear Harbor Asset Management's Aaron Kennin it's the first time
since November twenty twenty one that all four major benchmarks
closed together at all time.
Speaker 2 (05:19):
Highs this morning, Karen, we're watching shares of FedEx. They
are up four and three quarters percent in early trading.
The parcel company reinstated its profit and sales forecast, says
revenue will grow by four to six percent in the
current fiscal year that top Wall Street estimates. FedEx also
says it expects a billion dollar hit from trade volatility
this year due to President Trump's tariffs and the loss
(05:42):
of a key exemption for low value goods.
Speaker 3 (05:45):
Nathan Apple is releasing new iPhone designs, including the iPhone
seventeen Pro, Promax, and iPhone Air, as well as new
Apple Watch and air pods models. Today. Early sales across
Asia showed strong demand for the Pro model. The new
iPhone models feature redesigned elements such as an aluminum shell
and a thin shape for the iPhone Air andenter price
(06:08):
from nine hundred and ninety nine dollars to one ninety nine.
Speaker 2 (06:11):
And we have some monetary policy news out of Asia
this morning, Karen, the Bank of Japan has kept its
interest rate steady. Boj also took another step toward policy normalization,
announcing it will start to offload its massive exchange traded
fund holdings.
Speaker 3 (06:29):
Time now for a look at some of the other
stories making news in New York and around the world,
and for that we're joined by Bloomberg's and Michael Barr Michael,
good Morning.
Speaker 9 (06:36):
Good Morning, Karen. A protestover conditions at a Manhattan immigration
holding facility led dozens of arrests, including at least eleven
elected officials. The officials included Comptroller Brad Lander, public Advocate
Jamani Williams, and State Senator Julia Salazar. The government building
is home to several federal offices, including Immigration Court and
(06:58):
the FBI's New York Field office. According to advocates, several
officials were arrested inside the building while attempting to inspect
holding rooms amid allegations of squalid conditions and overcrowding. We're
learning more about the shooting deaths of three Pennsylvania police officers.
A prosecutor says a suspected stalker armed with a rifle
(07:20):
hid inside his ex girlfriend's home and ambushed officers who
came to serve him a warrant Wednesday. York County District
Attorney Tim Barker said during a news conference yesterday that
the officers opened the door and the suspect immediately opened
fire on them. Using an ar style rifle.
Speaker 10 (07:38):
Detective Sergeant Cody Becker, Detective Mark Baker, and Detective Isaiah
Emonheiser were all killed following the brutal ambush that was
committed upon them by the actor.
Speaker 9 (07:51):
DA Tim Barker says two other officers were wounded. The
shooter was killed after a gunfight. Barker says that the
incident involved a domestic violence. New York Mayor Eric Adams
says his city is prepared for the eightieth United Nations
General Assembly, which opens next week. Adams says security will
be increased amid national and global threats.
Speaker 11 (08:13):
At this time, there are currently no know specific or
credible threats against the United Nations, but our past is
elevated out of an abundance of caution given the global environment.
Speaker 9 (08:27):
About two hundred diplomats from around the world will descend
on the city Global news twenty four hours a day
and whenever you want it with the Bloomberg News. Now,
I'm Michael Barr, and this is Bloomberg Karen.
Speaker 3 (08:40):
Thanks Michael. All time now for our Bloomberg Sports updating.
For that, we bring in John stash Hour.
Speaker 12 (08:46):
Thanks Karen Thurs about football. To start week three, the
Bills got three touchdown passes from Josh Allen beat the
Dolphins thirty one to twenty one. Buffalo is three and zero,
Miami is zero to three. Clayton Kershawn, at age thirty
seven and eight eighteen season all with the Dodgers, announced
that he's retiring at seasons and his last home at
least regular season start will be tonight at Dodgers Dadium,
(09:08):
where last night Dodgers beat the Giants two to one.
Giants had only one hit. That's a Bloomberg Sports update.
Speaker 3 (09:15):
Stay with us. More from Bloomberg day Break coming up after.
Speaker 1 (09:19):
This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 2 (09:34):
Good morning, I'm Nathan Hager. President Donald Trump is ramping
up his pressure campaign against major media organizations once again.
Following ABC's suspension of late night hosts Jimmy Kimmel. The
President says the FCCS should consider revoking the licenses of
broadcast networks he deems too critical.
Speaker 4 (09:51):
They're getting a license. I would think maybe their license
should be taken away. It will be up to Brendan Carr.
Speaker 2 (09:59):
That was President Trump speaking aboard Air Force One on
his way back from his state visit to the UK.
And this morning we're joined by Bloomberg's Rosalind Mathieson and Roz.
Of course, we know the President has a long history
of putting legal pressure on media organizations, so that this
seems to take things to a whole new level.
Speaker 5 (10:15):
Good morning, Good morning, And yeah it does. I mean,
there are several layers of this is obviously the individual
impact on Kimmel in all of this on his show.
There's the potential, you know, death, someone would say of
the late night talk show format, because those shows tend
to be robust in their commentary around everything, including politics.
Speaker 3 (10:36):
But then more.
Speaker 5 (10:37):
Broadly, there's a question of tying the behavior of TV
networks to politics. And you know, the FCC has long
had these powers over licenses and the ability to make
changes to licensing and take licenses away even but they've
really tended not to use it, or certainly not in
(10:59):
these circumstances. And the very clear endorsement from Donald Trump
of the FCC criticism that came of Kimmel and his commentary,
and we saw the swift repercussions from that with his
show being taken off the air. There's a direct line
now between what Trump wants to see TV networks producing
and what they may feel that they can produce with
(11:20):
the thing that's hanging over their heads, and all of
that is the question of their license. So do we
see big changes in behavior as a result, and what
does that mean in the end for the concepts of
networks being able to air footage or commentary that is
critical of a government and certainly of a sitting president,
(11:41):
and so some very big precedents potentially being up for
grabs and all of.
Speaker 2 (11:45):
This, and there's still the question, isn't there rise about
whether the decision by the Disney owned network to suspend
Kimmel was a business decision or whether it was directly
related to the pressure that we saw this week from
FCC Chairman Brendan Carr.
Speaker 7 (12:02):
Well, that's right.
Speaker 5 (12:03):
It's interesting to see this example and obviously the previous
example involving Stephen Colbert, and whether you know, these came
at a time that these companies were also having big
deals or needing endorsement of certain changes in their company's behavior,
and for certainly the biggest producer, are the biggest owner
rather of local TV stations in the US. You know,
(12:25):
they have a deal before the FCC that they want
done an acquisition and they need FCC clearance for that.
And so you know, was there an impact in their
thinking in the minute because they know that they need
the FCC on their side to say that they were
going to pull his show from their networks at least,
(12:45):
and we can see that previously. And so if you
do need the government or regulators to support you, are
you going to start making these decisions regardless of the
ratings of the of the show involved or the money involved,
because you do need that broader relationship to stay intact.
Speaker 2 (13:04):
Of course, later this morning, the coverage of President Trump
is going to continue with the phone call later this
morning with Chinese President shi Jinping. So many layers there
as well, including one involving new media. What's going to
happen to TikTok, Well, that.
Speaker 5 (13:18):
Is the big question. It does seem as though they've
got to a bit of a framework on TikTok going
into this conversation. Some of the details are still very unclear,
but basically, you will end up in a situation where
byte Edance's state drops to twenty percent or less and
a group of American companies, three of them come in
and take majority control. That includes, of course Oracle. The
(13:40):
question is what happens to all the proprietary technology involved
in that. For byte Dance their algorithm. Do they basically
set up a new platform for TikTok users in the
US and port everybody over, But you still need Byteedance
in their technology to do so, to help building it
at least, So how do you ring fence then US
(14:00):
users of TikTok, And that's been a key concern obviously
in the US politically is to do that. But byte
Dance obviously wants to still preserve its technology. So there
are some sort of slightly murky areas still in this
deal to be understood. But we'll hopefully hear more today
after seeing Trump talk and then presumably will come out
and announce more details of the deal.
Speaker 3 (14:23):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 2 (14:30):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or manywhere else you listen.
Speaker 3 (14:36):
You can also listen live each morning, starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 7 (14:51):
Plus.
Speaker 2 (14:51):
Listen coast to coast on the Bloomberg Business App now
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Speaker 3 (14:57):
And don't forget to subscribe to Bloomberg and News Now.
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Speaker 2 (15:10):
And I'm Nathan Hager. Join us again tomorrow morning for
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here on Bloomberg Daybreak
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