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Squawk Pod

A Match in the Ring & a Debt Limit Showdown 4/3/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 3 April 2023

⏱️ 37 minutes

🧾️ Download transcript

Summary

UFC parent Endeavor is taking a majority stake in World Wrestling Entertainment, spinning off UFC and WWE into a new company. CNBC’s Alex Sherman, who broke the story over the weekend, discusses the many colorful characters in the new boardroom, and what’s next in streaming and scripted entertainment. Sen. Joe Manchin (D-WV) discusses the Inflation Reduction Act, U.S. deficit, and pushing for a “reasonable, responsible” middleground. Plus, OPEC is cutting oil output, in a surprise announcement, McDonald’s is preparing to lay off corporate workers, and Starbucks is at odds with the labor unions–again. In this episode: Senator Joe Manchin, @Sen_JoeManchin Alex Sherman, @sherman4949 Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0

Bring in show music please.

0:04.0

This is Squack Pod and I'm C. NBC producer Cameron Costa.

0:08.0

On today's episode, a lot of letters and one very big deal.

0:14.4

WME buying W. W. W. W. W. E. to combine U.F.C. I mean, O. M. G.

0:21.6

W. E.'s fighting chance.

0:24.0

The C.N.

0:25.0

The C. reporter who broke the story, Alex Sherman.

0:27.0

There's a lot of really big personalities now involved in this company.

0:31.0

Dana White is a big personality. Vince White is a big personality,

0:33.5

Vince McMahon is a big personality,

0:35.4

Ari Emanuel is a big personality,

0:37.3

I mean the board group meetings

0:39.0

may be worth televising.

0:41.8

And Senator Joe Manchin is fed up.

0:45.1

He's talking debt limit, inflation reduction, and finding middle ground.

0:50.0

Now all of a sudden there is no reasonable responsible sensible middle with the extremes of the party,

0:54.9

both Democrat and Republican.

0:56.5

And that's what I don't believe in,

0:58.0

and that's what I'm pushing against.

1:00.0

Those conversations, but first, labor issues at Starbucks and at McDonald's, and OPEC surprises everyone

1:07.0

with cuts to production, which complicates things here in the U.S.

1:10.8

This is inflationary. It could mean that the Fed has to stay higher for longer on things too so this has a lot of ripple impacts.

...

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