Reggae legend bob marley is out with a new album. We will talk about the is ms. Of being marley and all of that in the next hour. Its not everyday you get the ceo of green hill here and we have rob gilbert. Rangers legend. Im not even a rangers fan. I am. Lets get on to the breaking news after hours. Su keenan, what is the latest . Shares of netflix are soaring in extended trading. The company else it will start charging customers, new customers one or two dollars more a month for an online via video service. They reported first order sales and subscriber growth that beat analyst forecast. Meanwhile, late word out this afternoon at bill ackman is set to be teaming up for a takeover of allergan. He owns a stake of nearly 10 . And forbes will name a mark shields of his that as ceo according to two people familiar with the pending announcement. Back to you. Lets get more on netflix. It very strange. Here we are in new york. We got a look at the release. You looked at what su keenan said. This is a company with a business that in a lot of ways is very simple. Generally, they can keep the naysayers away but the fact they are talking about increasing prices if you become a new netflix customer in the coming months, that is something everybody was always wondering about with this business because of the billions and billions of dollars of content obligations. It is not free to produce shows like house of cards or cut egg these lucrative deals with the likes of disney. All of that content available for netflix customers, they have love the idea of keeping the pricing around 7. 99. But they have shown they are willing to play with the pricing because of you play with the pricing, maybe you can generate more revenue. Theres a momentum behind the company and a user based and they hope higher prices wont turn people away. Thank you very much. Always in interesting quarter. One thing you dont see from netflix is a lot of them in day, of m a. In the markets today. Already on track to be the strongest year for acquisitions. Almost 3 trillion. They are one of the top 20 advisers. Its great to have you on. There is always this talk about when m a happens from the market. It doesnt happen from the top or the bottom, why are we seeing it now . The reason it took so long to get here is probably a better question. You have seven rate did years of m a. A couple of times, it looked like things were picking up but didnt. This First Quarter field materially better and hopefully will turn in some completions over the course of the year. We have heard a lot about the emerging golden era of boutique firms like greenhill or ever core. Is this in fact the start of a golden era or does it feel that way because there are more stock deals and the Balance Sheet firms cannot lord that over the smaller firms like they had done . Yes. I think its a great time for firms like ours. 10 years ago, when we went public, this market it and really exist. There were a few small, private boutiques. Lazard has been there a long time. Youve got the four of us all public and weve had quite a lot of success will stop part of that is companies saying we dont only want to go to big banks who have all kinds of conflicts and products theyre trying to sell. We want someone who is a pure advisor. Do they really look for pure advice . Or do they ask you to scan the waterfront to see whats out there . It is something in between. I wish it was as easy as the first part of your question. Clearly, Companies Know what they want to own in some cases. You walktty rare where into an office and you think ive never thought of that. They did the best targets are out there. What is the right time, when would they target be amenable to an approach, when are you in a Better Business a better position as opposed to being outbid by another party. When is your stock price at the right level, those kinds of things. We have to talk about the ipo. When you went public, you set the next wave of all the other firms going public. Does that mean we will hear from others that will start . What does it mean for him and for you guys . For us, its a net positive. The more you establish the concept of a big Company Going to a very small firm and on a giant alan sheet with tens of thousands of employees, thats a good aim for us. As far as these companies as investments, if you go back 10 years ago, it didnt exist. We were first and lazard followed. These are proven entities. As public companies. They have done quite well. Its a good investment. Anybody out there who has old one of these is saying can i do what greenhill did, can i create that kind of value, so i suspect there will be more. Weve seen a lot of increasing activist activity, i dont know if its because theyre getting more attention, what is the role of boutique Investment Banking in those kinds of deals . First, its a huge and growing phenomenon. Weve done a chart for some clients and if you go back even seven years, the typical activist deal, they needed to buy it at stake to have influence. It could be apple, microsoft, the biggest companies. Carl icahns stake in apple and the number of the countries has in a number of the companies has been miniscule, but hes gotten results. They have gotten results, sometimes 1 or even smaller. Do they come to Companies Like yours for advice . Some of them do. We have a policy and we dont advise activists on anything. The point of view of a Major Corporate board on the one hand or an activist shareholder is so dramatically different and its very hard to advise folks will stop we work only with the companies. Its only a rumored deal. We do get quite involved in a lot of clients didnt realize for some time is what is called the rhyme Brokerage Department department. Kerage at the big banks is really the Hedge Fund Service part of their business. It is a huge moneymaker and some of those are the top clients at the bank am so why would you want to go to them for device question mark the activist maybe one of their top clients will be there. Im curious up elbow role of the tech focused in San Francisco and it was so dominant in the last bubble. All gone, all acquired by the other companies. The collapse of those businesses is part of the spread. Certainly firms like ours can be very helpful in technology situations. The reason is because weve had such a cash balances that the main focus was pay as out that cash. Microsoft, apple, it wasnt a very complicated message. It was you have huge amounts of cash you are not going to use. Return to shareholders in dividends and buybacks. You are right. They all got bought. Thank you very much. Coming up, dont hate the player, hate the game. We will hear more about the notion of washington is rogan. Broken. The author of the rules of nobody when we return. Welcome back. This is taking stock. Cory johnson and i are filling in for pimm fox. The state of scrutiny, author Philip K Howard is here. Thank you for being here. This is building on your success, this is more common sense, which is the government is broken, partly because people dont feel like they have the authority to do anything and one of your solutions is give them a chance to do something and empower them. What has happened is over the decades, laws piled up like a sediment in the harbor. So no one can do anything. It takes a decade to approve a new infrastructure project. Its impossible to allens the budget because its all set in legal concrete. Tell us a little bit about some of these crazy things going on . A tree fell in the creek in franklin township, new jersey. Caused flooding. They got it back owed to pull it out in the lawyer said that is a class b. To get formal approvals to remove a natural obstacle. It took 12 days and 12,000 is to get approval to pull the tree out of the creek. Last month, the white house issued a report on the results of its 800 billion stimulus lamb. You would recall the great purpose was to rebuild americas infrastructure. How much did they rebuild . It turned out buried in the fine print in the bottom, three percent of the money went to rebuild transportation infrastructure. The reason was the president , even the president doesnt have the authority to approve the projects. Are there simple fixes . Justice stevens had a book out making similar suggestions. He admits these are never going to happen. Politicallys feasible. Congress can barely raise the debt ceiling to avoid national default. But what social Scientists Say is inertia eventually causes the branch to break. The truth is most of these things are really easy to fix. He just had to give somebody in the epa authority to say when theres been enough environmental review. You could have review done in a year instead of a decade. The fixes are just to Measure Authority to make judgments about how to do things, but it is going to require higher prices before we get to that point. The ideas make such good sense, but what has been the reception . People say its great, lets do it or we cant get anything done . The books just came out and all the reviews are great. But i think what will happen, and im talking to some senators about introducing legislation on improving infrastructure. We are also talking about some legislation to scrape away the bureaucracy in schools, for example. Empowering people to make decisions. Basically, what you need to do is not do away with government, you need to create you keep most of the goals of government but make law into more of a corral. People are free day today to make choices to make rings happen. We still have a difficult unemployment situation and make the government job look different and their willingness to stand out on that limb more difficult because they want above all to keep their job. Theres a problem in the way we have organized the government. The president doesnt have authority to fire people who wont follow orders. Over 20 Million People in this country work for the government. They can be hired sensibly, they cant be fired, they can be managed at all. Thats one of the many things. We will have to have a dramatic Spring Cleaning because you could have got elected resident and he could make the choices needed to fix the government because its all encased in all of this accumulated wealth. We could keep talking about this for an hour, but weve got to go. Thank you for coming in will stop the author of the new book rule of nobody. Edward snowden is making news again, putting questions directly to Vladimir Putin. Well go behind the scenes, next on taking stock. Welcome back. Bill cohen and i are in for pimm fox. Edward snowden keeps popping his head up on the national stage. He asked Vladimir Putin of moscows buys on its citizens. Russia could not afford broad spying. The question was made to the question was made to leader unaccustomed to being challenged. This amazing story in vanity fair. Its incredible. Its a journey to verify what snowden said. Its captured in the latest issue of vanity fair. Issue of energy fair. Thank you for coming in. Its an incredible story. Written. Is very well its very enlightening. Even if youve followed this loosely, the idea that its all in one place, its a long read but a great read. What did you find out that we didnt already know . We started out with the idea there had been a great deal written about the program, the surveillance smit the Surveillance Program and theres ray little about what motivated him, who he was and how did he find himself . He was one month shy of his 30th birthday, and leaving everything his life kind, his home, his country, his girlfriend and career. There is a sense of terror that goes through the piece. It has that ticktock sense of whats going to happen next. At some time, it seemed like he had a plan, but at other points, he didnt. Thats a good question. One of the things that astonished me was that i dont think he had a plan b. I think he got on the plane, left everything behind, had several flash drives in his suitcases and tens of thousands of documents outlining this and hiss top secrets, only goal was to get these in the hands of journalists who would publish them and may be kind of go to hong kong. That was it. I think he knew right away very early on it he would reveal his identity. Obviously the key to this is getting the cooperation of the other journalists. Right . But it was very touch and go throughout. There were times that they did not take him seriously. And suddenly, they did get on board. To toot my horn here. For someone who has not had her horn tooted enough. I dont know if we would have heard of Edward Snowden if it wasnt for laurel. Laura called him and but he wavered and wanted to know. He was soon wanting to come to hong kong and he wouldnt. Laura stuck with them from the moment she heard from him in email, ierious will make this worth your while. Now that these journalists have been awarded blitzer prizes, does that confer on snowden a sense of legitimacy . Is he no longer a traitor because the journalist received the ultimate prize in journalism . I think absolutely they should have gotten may prize on the grounds that this is the biggest journalistic story of the year. Maybe even the decade. Was it the most difficult story for the journalists . They are not the most sophisticated deal. If Edward Snowden took all the risk and when he was very courageous, does it reflect on him, i its going to be viewed by different people. I dont think he was a traitor and its never we have to look at every angle, but for some people, i dont think you will change anybodys mind. In fact, it could inflame your piece is really interesting. How did you break down the different pieces of this or was it just all hands on deck . It started out with expertise in the media. She wrote about Rupert Murdoch and wikileaks. I think above all and under all and around all, the individual is the most important. I did his whole life, so i did the nsa and cia. Brian did everything else. Great stuff and traffic terrific story. Everyone should read that one. More taking stock after this. This is taking stock in for pimm fox today. But get a look at the markets and headlines after the bell. More on the deal now about valiant pharmaceuticals and a black man the two are teaming up to offer a cash and stock bid representing about premium. Shares are surging in extended trading and it would include about 15 billion in cash on a a person close to the matter said. The First American male in 31 years to win the Boston Marathon today. Its one year after a pair of homemade alms killed three and 264 at the finish line. Those are the top headlines. King world productions, one of the most Successful Companies in the history of television that distributed inks like the Oprah Winfrey show and wheel of fortune. Michael king. The ceos newest venture is king boxing. Boxing has fallen out of the pantheon of Great American sports. Why boxing . First of all, sports is the most important programming and in television. I am a Television Guy and broadcast executive. I believe when you look at how valuable Major League Baseball and the nba and nfl, at one point, boxing was far bigger than any of them. My Brother Roger and i and my bob, we always looked for Distressed Properties. Wheel of fortune and jeopardy, they were Distressed Properties. Jeopardy was on the shelf for nine years and yet 96 of americans watched it on three different networks. They were all pretty distressed and we looked and analyzed it and answered the question why isnt it working better . We answered those questions and then decided to put the show into syndication, but then we locked both of them up for 50,000. Buy low, sell high. What is it about that where you see the value, things are stressed for a reason. What the characteristics of rock boxing that looked like other Distressed Properties youve looked at in broadcast . When you look at all the other sports, nfl, nba, Major League Baseball, they are organized by a major, sophisticated league. In boxing, they dont have that. They have a lot of great people, but they have not been working together properly. None of them are entertainment people, so i believe although theyve done some great things, even though its running into some problems, they generate hundreds of millions of dollars a year now. When we picked up wheel of fortune, it did not generate much money. Jeopardy was on the shelf. Just like with wheel and jeopardy, we made a deal that was very low because no one else was interested in the property. My dad always said make a deal both parties walk away smiling. Merv griffin owned the majority, and although he did not get much money as a guarantee, he became a billionaire off of it. We did the same with opera. Oprah. We found her on a local show called am chicago. Everyone was looking to follow us in game shows and the number one game show company decided to move into a new genre, and that was talk. What is it going to mean for the american viewer . Are we going to see friday night at the flight friday night at the fights or boxing back on the Television Customer tell us what to expect. I think you should see all of the above. There was a time when the United States olympic team and the u. S. Team, you sought on abc networks and the wide world of sports all the time. The truth of the matter is the boxing industry has left the broadcast community and theyve gone with payperview. Payperview generates tremendous revenue for a few fighters that it doesnt build stars. What i would like to see is i would like to see a lot more boxing on the commercial networks, basic Networks Like espn, and i would like to see all of the above where we have amateur competitions and a great weekly show. And of course, mohammed ali became a sup