AirTalk dives into the implications and logistics of this morning’s announcement that Disney will be buying a majority of 21st Century Fox for around $52.4 billion. We also parse through the Republican tax bill’s possible effects on California; has the economy reached ‘full employment?’; and more.
Next for the Disney / 21st Century Fox deal: How to combine the two entities into one
Disney is buying the Murdoch family's Fox movie and television studios and some cable and international TV businesses for about $52.4 billion, as the home of Mickey Mouse tries to meet competition from technology companies in the entertainment business.
Disney's all-stock deal for 21st Century Fox gives it the studios behind Avatar, "The Simpsons" and "Modern Family," though Murdoch will keep the Fox News Channel, the Fox television network and other U.S. television businesses. The deal also brings Marvel characters such as X-Men and The Avengers under one roof.
The blockbuster deal is a way for Disney to acquire the content necessary to rival streaming giants like Netflix. While its influence on the media landscape would be huge, the acquisition is also going to have a sizable impact on Los Angeles and our local economy.
How will the cultures of these two different entities be melded? Could there be layoffs?
With files from the Associated Press.
Guests:
Ben Fritz, film and media reporter at The Wall Street Journal's Los Angeles bureau who’s been following the story; one of his areas of focus is the Walt Disney Company; he tweets
Dawn Chmielewski, technology editor at the entertainment news site Deadline who’s been following the story; she tweets
What role, if any, Steve Bannon will play in future of Republican party and elections after Roy Moore loss
Republicans who supported Alabama Senate candidate Roy Moore are reeling after a stunning loss in a special election on Tuesday to replace the seat vacated by now-Attorney General Jeff Sessions.
While others in the party who didn’t support him may be breathing a sigh of relief that they won’t have to spend the next three years apologizing for his election, one person who is likely not feeling relief is Breitbart chairman and former White House chief strategist Stephen K. Bannon, who fought tooth and nail and used all of his institutional pull at Breitbart to try to get Moore elected, even after allegations against him of sexual misconduct and assault surfaced.
Democrat Doug Jones’ victory over Moore is seen by many as a referendum not only on the Trump presidency, but on Bannon and his quest to mix up the GOP establishment by pushing populist candidates in midterm elections. The defeat leaves Bannon without an election victory in which to plant his flag and will likely have other members of the Republican Party wondering whether his strategy is the best one for the party as a whole moving forward, and how fallout from this election might impact future races.
Guests:
Sean T. Walsh, Republican political analyst and partner at Wilson Walsh Consulting in San Francisco; he is a former adviser to California Governors Pete Wilson and Arnold Schwarzenegger and a former White House staffer for Presidents Reagan and H.W. Bush
Joe Concha, media reporter and columnist for The Hill; he tweets
Has the economy reached ‘full employment?’ And what does that mean for jobs?
The economy has been on the up and up, and some economists think that we’ve reached “full employment,” meaning that everyone who wants a job has one.
Economists who believe the economy is doing well fear that a fiscal stimulus, such as the on being pushed by the GOP tax bill, could pose a danger. Other economists don’t believe that we’ve hit “full employment” yet and that the economy still has room to grow.
Are we at “full employment?” Whether you’re an employer or in the labor market, is this translating into your life? What does that mean for wages?
Guests:
Michael Madowitz, an economist at the Center for American Progress, a left-leaning think tank
Chris Thornberg, founding partner of Beacon Economics; his focus includes economic forecasting, employment and labor markets and economic policy
What are the consequences of a net neutrality repeal for consumers?
The Federal Communications Commission has repealed net neutrality with a 3-2 vote on Thursday.
For the past few years, there’s been contentious debate over the net neutrality, or a set of Obama-era rules approved by the FCC in 2015 aiming to keep the internet open and fair. This means internet service providers were banned from creating fast and slow “lanes” of online traffic.
The now Republican-led FCC is hoping the repeal will increase competition, spurring innovation. But net neutrality supporters are worried that lifting the regulations will give providers too much power.
Some players in the tech world are worried about how the change would affect fledgling businesses. Consumer advocates are also against overturning net neutrality, arguing that this rise in competition will come at the expense of broadband customers.
What are your thoughts on net neutrality? Does it help or hurt business competition? And what are the consequences for consumers?
Guests:
Steve Effros, cable industry analyst and lawyer based in Virginia and former president of Cable Telecommunications Association, an industry trade association.
Andrea Belz, vice dean of technology, innovation and entrepreneurship at USC's Viterbi School of Engineering; she leads the effort for the National Science Foundation’s Innovation Corps entrepreneurship activities in Southern California which cultivates startups at USC, UCLA and Caltech
The California response to the GOP tax bill
Congress is aiming to vote on the biggest tax overhaul in 30 years next week, after the House and Senate announced that they’ve hammered out a final tax bill yesterday.
Text of the final version of the bill is still being drafted and Congressional Republicans are hoping to release the full text to the bill by Friday.
These are some of the details of the still-being written tax bill, according to congressional aides who’ve spoken to NPR:
The current version of the bill is leaning to set the limit to the mortgage interest deduction to home loans -- a deduction popular with Californians -- to $750,000
Top individual rate reduced from current 39.6% to 37% for top earners.
Corporate tax rate ta to be set at 21%, not 20%
State and local tax deductions capped at $10,000.
Corporate alternative minimum tax (AMT) to be repealed
Grad school tuition stipends will not be taxed as income
Larry speaks with different California stakeholders to get their reactions to these new changes.
Guests:
Dan Walters, long-time CA politics observer with CALmatters, a nonprofit public interest publication
Steve White, president of the California Association of Realtors
Stuart Waldman, president of the Valley Industry & Commerce Association (VICA), a non-profit representing businesses in the San Fernando Valley
As Du-par’s diner closes, what’s your favorite restaurant hang out?
It’s final, Du-par’s restaurant in Studio City will close on Jan. 1.
The diner has been open for the past 70 years. There’s another location in Pasadena, but as Los Angeles Daily News reports, the one in Studio City will be replaced by a Sephora as the owners couldn’t work out a new lease with landlords. The news is a blow to the staff and customers of Du-Par’s. It’s a regular hangout for locals, and like many diners, has a familial feel. Another nearby location may open up, but that has yet to be determined.
In light of the closing of this landmark, AirTalk wants to know about your restaurant hangouts. What place has that “Cheers”-like quality: where everybody knows your name? Where do you go for the company, not just the food? Are there servers and owners there that feel more like friends and family?
Guest:
Farley Elliott, senior editor, EaterLA; author of “Los Angeles Street Food: A History from Tamaleros to Taco Trucks” (The History Press, 2015)