Wars the last jedi, is in theaters tonight. Rich gelfond is the ceo, hes here exclusively to tell us how star wars and the disney fox tieup will change hollywood and just how imax outdid itself at the london premiere. Were going to show you something youve never seen before. Plus, oscar winner jamie foxx helping the turn the eye wear industry upside down . How a pit stop at a gas station got him together with the gutsy Small Business thats ready to disrupt the disrupters. And well tell you how a tech titan original is now hoping to use his original take and chance on bitcoin to cure global poverty. Can overstock Ceo Patrick Byrne do it . Were going to push him on this in a fox business exclusive. On wall street, the markets sliding late in the session as materials be and Health Care Stocks lose are ground. Were less than an hour the closing bell. Big hour here, folks. Lets start the countdown. Liz breaking news just minutes ago, President Trump literally cut the red tape on red tape and regulations following his remarks at the white house. Specifically focusing, as he stood beside those huge towers of regulation that have happened since 1960, President Trump saying that his administration which originally had thought hed do two for one, well, he says its now 22 regulations vaporized for each new one added. He also doubled down on the overall effort to rid the federal government of excessive rules which he says hurt entrepreneurs, hurt Small Businesses and hurt job creators. Lets check on one group of stocks that could be largely impacted by this, financials. Currently trading mixed at the moment or flat, you could call all of these flat, but goldman and wells fargo look slightly higher. Checking the broader markets, stocks losing momentum after hitting an alltime high earlier. The dow, which in essence any gain will make it a record close, now looking to snap a fourday win streak of record closes. Right now the dow is down 44, the nasdaq down 13. Theres a whole issue about Net Neutrality and a lot of tech names that are moving all over the place on this. Well get to that in a moment. And the simpsons nailed it again. Prescient, you could call it. The hit series predicted disney would buy fox nearly 20 years ago with this bit of animation where it said 20th century fox, a division of wall street company. [laughter] well, call it magic or prescience or simple dealmaking, but the two companies have finally put all the rumors to bed and announced a media megadeal that combines two of the worlds biggest entertainment giants. 21st century fox leading the s p 500, its jumping about 6 now, hovering near a two and a half year high after finalizing a deal to sell some assets to disney for 52. 4 billion. Disneys up 3 . Why . Because it includes Cable Entertainment networks, International Tv businesses and, of course, the film and television studios, plus foxs hold on hulu. Its stake in hulu, which is owned by a lot of these companies. Now big blockbuster franchises like simpsons along with movies like the xmen under the same roof with disneys frozen and star wars. 21st century fox will spin off fox news, fox business, fs1, fs2 and big ten networks, but as weve seen with at t and time warner, no deal is final until the regulators give it a green light. And, of course, at t and time warner, theyre getting a major flashing yellow if not turning slightly red. Straight ahead, Charlie Gasparino on whether the two Companies Might have to do a very delicate dance through the governments red tape to get over the finish line with this deal. Its not a done deal. By the way, if its rejected, disney has to pay fox a breakup fee of more than 2 billion. Well, if you thought congress was about to settle in for the Christmas Holiday dramafree, you have to think again. A major wrench has just been thrown into the gops plan to pass sweeping tax reform in the form of that guy on your screen, senator marco rubio, the republican from florida. He says and has confirmed hes a no vote on the tax package. His big issue . The Child Tax Credit. He says it needs to be more generous to low income families than it is right now, and just moments ago we heard from a rubio spokesperson if he is a no on tax reform to which she replied, quote, thats correct. Senator rubio has consistently communicated to the senate tax negotiators that his vote on final passage will depend on whether the refundability of the Child Tax Credit was increased in a meaningful way. Blake, youre at the white house. The president , couldnt tell, he looked very casual and excited. Didnt seem to be worried about that or is he secretly whistling past the graveyard here . What can you tell us . Reporter well, in an event at the white house just moments ago the president was asked about marco rubio, and he simply said well be there, he thinks marco rubio will be there. Hes pretty optimistic. If nothing else, he doesnt really think marco rubios going to end up being a no vote on this even though rubio has said, hey, look, the child tax the child care tax credit is not in the ballpark that he and senator mike lee want it to be in. This is an issue that they have stood on for a while nowing working with ivanka trump on, and now that we are getting down to what appears to be the last day or days if not hours of negotiations before republicans finally roll this thing out and bring it to the floor next week, youve got marco rubio who was thought to be a firm yes now all of a sudden saying, hold on a second, im a no. I asked sarah sanders, the White House Press secretary, about this in the briefing, and she said they are continuing to work with marco rubio about it, but now you are starting to see, liz, a whole lot of or at least with a few different people here who you now have to follow as the which way they might lean on this. Marco rubio, mike lee says hes reviewing it, jeff flake is still working through it. Of course, you know the concerns of bob corker. The white house has felt optimistic throughout, we havent gotten any sort of wore toly from them that this thing is on the edge of teetering as we heard President Trump say he thinks rubio will get there. But no doubt about it, liz, certainly republicans in this white house have to Pay Attention to marco rubio and his concerns was he say because he says as it stands this very moment hes a no, and theres not a whole lot of moments left. Liz . Liz plus you have doug jones who probably at the moment will not be, i guess, one of the voters . Theyre trying to get that ahead of him being sworn in in january, and this may give bob corker a republican whos not on great terms with the president and who was concerned about this tax reform plan more, i guess, oomph and ability to turn around and say i might be a no, right, blake . Reporter theres always a Snowball Effect here. If one says im a no, it kind of opens the doors for the others to say, hey, look you know, republicans have been making the argument that if they can get to 50 plus 1, maybe some democrats would come on board and say yes. Potentially, youre getting the opposite of this. By the way, liz, just heard weve got the tape from marco rubio. Liz right. This is his concerns. Listen here to the senate just momentsing ago moments ago. Liz okay. I think hes really been a great guy, really supportive. I think that senator rubio will be there, for sure. Were doing very well with the tax front. We have tremendous support. We have tremendous spirit. Liz yeah, yeah, go ahead. That was supposed to be rubio. Were still working on the edit of that because it was sort of on the run for marco rubio. But, blake, thank you very much. Reporter yep. Liz and lets just also remind people that cheryl had just told you about a quinnipiac poll where 55 of americans polled did not like this gop tax plan. So as we look for more gran you lairty on that, we do know this the Business World for the moment is not focusing on the Corporate Tax rate right now. Theyre watching to see how regulators will respond these are President Trumps regulators now en when it comes to the 52. 4 billion between disney and fox business Parent Company 21st century fox. Both stocks are jumping right now. There is a belief itll happen, but charlies been working the phones to find out will this deal get as much scrutiny as what we saw with the at t and time warner deal, charlie . Great question, and i will say no based on my sources inside the trump dojs antitrust division. Heres what theyre telling me, and these are from lawyers that are working on the at t time warner case. Remember, theyre the doj, the trump doj is suing to break up that deal, that major, that other major merger within the Telecom Media business. The trial is set for, i think, february. It should run probably a decision made by april because its a expedited decision schedule that theyre working on. Hereheres what theyre telling, the opposition of at t time warner does not negate the disney fox tieup, and they will not receive the same type of intense scrutiny from the doj that is being, that, obviously, at t time warner has. And we should point out that theyre signaling this as at t time warner, doj and at t are both currently planning their legal strategy as this trial date passes comes, is looming. Heres the thing, liz, you know, this is an odd thing in terms of antitrust. In the past, socalled vertical mergers of at t time warner, when you have distributer, content and not overlap on the same sort of functions was generally allowed, you know . With some conditions. Comcast Nbc Universal is one of those examples with conditions, right . What hasnt been allowed traditionally is the horizontal mergers where you layer on top of what disneys doing with our assets the same type of assets. Why is that in the theory has been that that becomes potentially a monopolistic merger where you could squeeze consumers. Justice department is now arguing just the opposite. Theyre saying combine massive distribution and content even though youre not doubling down on either or on any of them is not good for the consumer because you could squeeze everybody else to force them to pay at t, essentially, can squeeze consumers by forcing them to the pay up for the content that they have now which is cnn, hbo, you name it. And theyre basically saying on our end, well, we dont see, basically, how that is such a monopoly if disney controls a lot of the box office. Because guess what . Theres all these emerges technologies coming out emerging technologies coming out. Content is everywhere from netflix to hulu to you name it. Its everywhere. Content is not a problem right now. Theres no monopoly on content anymore. So thats what we have right now. Its an interesting debate. We will be following this closely because its one of the best stories right now, biggest stories right now on wall street, particularly the at t time warner deal. And one other thing. President trump said he has tremendous support for the tax deal, is that what that poll of yours suggested . I dont think so. Liz in fact, they just ran it in the intel report, the show before us, and cheryl had it, it was a quinnipiac poll that said 55 dont approve. You know, americans see certain things, and they see its going to be a permanent tax cut for big corporations right. Liz but temporary for them. I think they may be bothering people. If you get one of the biggest tax breaks here, youre in the lower income, say you make 75,000 a year, theyre telling you youre going to get 2,000 in tax savings. Divide that by 52, its 38 a week. What do you get . I dont care where you live, if you live in the midwest, you cant buy a lot with 38. Liz charlie on so much that on top of that, theyre screwing a lot of people in new york who pay into this economy bigtime. Liz charlie, thank you. And im sure some of our viewers dont care about new york well, some of our viewers are in new york, some of them in california too. Liz absolutely. Absolutely. I have relation to all three including new jersey. That too. Liz closing bell ringing in 47 minutes. Dows down 39. Disney not just banking on fox today, xwing fighters set to launch for the debut of star wars the last jedi. Hows that going to look op an i max megascreen . Particularly one built to watch. The latest edition built at the famed Royal Albert Hall in london for the big premiere. Wait til you see how they built out the screen. Were going to show you exclusively. Ceo of imax rich gelfond here exclusively to talk jedis, the dark side, the movie business and how that disney deal and fox could change everything. Hi, rich. Come on down the hall. Well see you in a minute on countdown. As its currently structured, is only 1100 which means a lot of people making 35, 40, 25,000 are not going to be able to utilize as much of the credit as they need. What ive asked is that that 1100 be raised. Im reasonable about it. Liz marco rubio intends to say no to the gop tax plan unless he says it floats more of the tax change benefits, specifically the Child Tax Credit, to the working poor. The white house just said that the Child Tax Credit will be doubled under the new plan, so there apparently is a disconnect between the two or theres a gap at the moment that needs to be bridged or for now rubio is a no vote on the tax reform plan. Well, speaking of Child Tax Credits, theres a lot that children are look at tonight as well as i adults, they are geeking out about whats going to happen this evening. Liz disney already was gearing up for a heavily busy week in just the massive release of the star wars flick, the last jedi. But then they have an out of this world announcement, the disney 21st century fox deal. One company uniquely positioned to benefit is imax. Imax ceo rich bell fond joins us now in a fox business exclusive. Oh, this is exciting. Youve got two huge stories descending on your world. We do. I mean, its hard to believe the force all coalesced around today. Liz i like that, rich i do too. Liz you stole that one from me. [laughter] he was so excited and ready to use that specific line. Rich, lets get to the big news first that is the newest news. Two major studios who, if you use just last years numbers, combined have 40 market share. Im interested to know what you think about how that kind of blockbuster, i guess, combination will affect your business specifically when it comes to distribution and how theyre able to negotiate all kinds of deals that may be great for them. Id like to know how you see it. Im very positive about it. First of all, disney is our closest relationship in hollywood, the most films, the most dollars, tremendous marketing cooperation between the two of us, make blockbusters which is imaxs product. Although we have a Good Relationship with fox, i think whats going to happen is its going to be the more, bigger movies, more integration, more focus. Disneys also in the business of creating movies not just for movies, but for franchises. So whether its sequels or theme parks, imax is certainly a great way to launch blockbusters and launch franchises. Im very excited about it. Liz yeah. Youve got the xmen franchise coming from fox, ice age when youre looking at Animation Properties there. Star wars, which is on disneys side, avatar. What they get, and not a lot of people are talking about this, but its avatar ii that you and i have talked about for years. Avatar still holds the record for the biggest blockbuster, Box Office Numbers ever. So they get that. They already have a synergy, i believe, with their theme parks. They do. I havent been there, but ive heard avatar world at disney world is fantastic, really great. Avatar, even though we launched it seven years ago, did over 250 million in imack when we were around 200 screens, now we have 1400 screens. For me when i get excited about it, avatar is really the biggest thing of all. And then star wars, like you say, fox used to distribute star wars, now disney does, reuniting all the marvel characters. I just think its fantastic for the movie industry. Liz for you guys specifically because, you know, art films respect really your thing at imax, so youll get these opportunities. Im very interested that you just said avatar is the biggs thing, but this weekend its star wars the last jedi. You just premiered in london, and youre about to see something nobody has seen, and that is the time lapse photography of what you pulled off at Royal Albert Hall, a building that was built in the 1870s. So we had six hours to turn Royal Albert Hall into an imax theater. And ive got to tell you, liz, weve never done Something Like this in less than three days. And when the team said they could do it, i held my breath. And as a matter of fact, i talked to kathleen kennedy, producer of star wars, that morning. And i said no ones ever heard of me, but if we mess this up, im going to be more famous than you. [laughter] by the end of day. And im glad i wasnt. Liz well, keep going, because were watching it go up. I want to see the full thing happen. You see the side parts how many workers and, you know, this is unbelievable. There were eight people, and because we really were worried it wouldnt work, we rented a warehouse next door to Royal Albert Hall. We flew all the things in from around the world. We put up this screen over the weekend liz there it goes. Ask then we tried it, and it worked. And, you know, we said god forbid, god hoping no problems. It went up and it worked, and i was at the premiere, and it looked phenomenal. I even bought a glass of champagne for the guys who made it happen. Liz oh, thats nice of you, just one glass. [laughter] well, they had to stay sober in case it fell apart. [laughter] liz exactly. One thing that just came to my mind, streaming is going to be a huge thing for the fox disney matchup here. They do have the big, controlling share of hulu at thi