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The Story Is with Elex Michaelson

Final Results in California Elections Could Take Days; Trump Says Negotiations with Iran Going "Very Well"; New York Knicks Win Game 1 Against San Antonio Spurs; New York Knicks Defeat San Antonio Spurs 105-95 in Game 1; Final Results in California Governor's Race Could Take Days; CBS Fires Scott Pelley After Clash with Bosses. Aired 12-1a ET

Aired June 04, 2026 - 00:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


[00:00:00]

LAURA COATES, CNN ANCHOR: Some pocketed wildfire aid from the FireAid concert. The governor had no role in the concert and there's no evidence he pocketed any money from it.

Thank you for watching. "THE STORY IS WITH ELEX MICHAELSON" is next.

ELEX MICHAELSON, CNN ANCHOR: I'm Elex Michaelson live in Los Angeles. Welcome to THE STORY IS.

(BEGIN VIDEOTAPE)

MICHAELSON: THE STORY IS the California election. We still don't know who's advancing in the races for California governor and L.A. mayor. We'll look at the latest numbers just ahead.

THE STORY IS the war with Iran. Secretary of State Marco Rubio suggesting that the war is over. But is it really?

And THE STORY IS the NBA Finals. Former NBA All-Star Baron Davis live in studio to break down game one.

(END VIDEOTAPE)

ANNOUNCER: Live from Los Angeles, THE STORY IS with Elex Michaelson.

MICHAELSON: And our top story is right here in California, where election month continues. Vote counting is underway in the key races for governor and L.A. mayor. Final results could take days or weeks as mail-in ballots postmarked on or before election day have a week to arrive, and then there's 10 days to cure your ballot if there's a problem with signature verification.

Republican Steve Hilton is leading in the governor's race, followed by Democrats Xavier Becerra and Tom Steyer. So we don't have a result yet. So we got an excuse to play my favorite music, our election music.

The top two vote-getters advance to November's general election. Becerra taking a shot at the Trump administration. Hilton calling out Becerra.

(BEGIN VIDEO CLIP)

XAVIER BECERRA, DEMOCRATIC CANDIDATE FOR CALIFORNIA GOVERNOR: I sued Trump more than 120 times before, and I won. And I won, and I won.

(CHEERS AND APPLAUSE)

BECERRA: And anyone who wants to come at California will have to go through me.

STEVE HILTON, REPUBLICAN CANDIDATE FOR CALIFORNIA GOVERNOR: Looking at the -- basically the record of the Democrats after 16 years in power and the fact that we've got the highest gas prices, highest cost of living on everything, highest poverty rate, highest unemployment rate, the crime, the homelessness, all these things. And you've got a candidate in Xavier Becerra, if it's him, who's explicitly saying that he doesn't think that there's anything that's been done he disagrees with, and isn't offering any kind of change.

I think that we will have a shot at winning. I don't think it's going to be easy, but we're going to work very hard.

(END VIDEO CLIP)

MICHAELSON: In the Los Angeles mayor's race, incumbent Karen Bass will advance to the general election in her bid for a second term. Right now, Republican Spencer Pratt is in second place followed by L.A. city council member Nithya Raman, a Democrat who identifies as a Democratic socialist.

Joining me now from Washington is Democratic strategist and former Gavin Newsom campaign manager, Addisu Demissie, who really knows the numbers as good as anybody. And here, not as much as a Democrat, but here as somebody to sort of break down the numbers on where we're at. We got some new numbers today, not as many new numbers as we wanted to get today.

How do you read what we learned today when it comes to the governor's race?

ADDISU DEMISSIE, DEMOCRATIC STRATEGIST: Yes, it was a bit of a tease. About 140,000 votes were counted today. About half of them out of L.A.. I'm sure we'll talk about the L.A. mayor's race in a second. But I think honestly the big news wasn't about the state of the race. It was about turnout. L.A. County, for example, announced that they still have -- they anticipate 700,000 more ballots to count.

That would put turnout over two million in L.A. County alone. And some experts are projecting over nine million in the state. I would have thought, honestly, I did think we would end up closer to eight million. We still might. We don't know. But really, in the race I ran for Governor Newsom in the primary in 2018, 7.1 million people voted. In 2022 midterm. 7.2 million people voted. So now if we really get close to nine million, that is an incredible turnout. And frankly, a late turnout. A lot of those votes came in in the last three or four days of the

election. So what I think it basically said is that, you know, we're going to be here for a while. Like you said, this might be a longer process than we thought because so many Democrats, and I think it was a lot of Democrats, waited and overwhelmingly voted late in this race to have a really historic turnout for a primary election.

MICHAELSON: So if you're Tom Steyer's campaign, does that give you new life?

DEMISSIE: Yes, I think it gives you hope because really all he's got left is hope that those ballots were materially different than the five million or so ballots that have been counted. And that's -- and materially more Democratic so that he can, not just potentially pass Xavier Becerra, but more likely, I think, at this point, pass Steve Hilton and turn this into a top two Dem-on-Dem race in the general.

[00:05:05]

But, as we'll talk about I'm sure in a second, I think that is still unlikely. But a nine million turnout is really a good news for Tom Steyer.

MICHAELSON: So it looks increasingly likely that Xavier Becerra is going to be one of the two. We don't know that for sure, but we'll see. When you ran the last open governor's race in 2018, you all worked very hard to make sure that Governor Newsom, a Democrat, ran against a Republican named John Cox and sort of helped lift John Cox into that. And the race was so competitive that you debated John Cox on a Monday morning on the radio at 10:30 a.m., because you felt like you had to check a box. So that's how close that race was.

What does the next five --

(CROSSTALK)

MICHAELSON: What is the next -- yes. Thanks for doing our debate. What is the next five months look like for Xavier Becerra if he is running against a Republican or if he's running against a Democrat who's got billions of dollars in the bank?

DEMISSIE: Yes. I mean, I think the last point is the most important point. But first, taking -- running against a Republican, I do think at that point it is a bit of a foregone conclusion that he's going to win the election unless something catastrophic happens. It's a Democratic state. This is a Democratic year. He's running against a Trump endorsed Republican, but he does have some work to do to introduce himself to the electorate.

You know, in some ways, his message was drowned out by Tom Steyer and the tens of millions, hundreds of millions of dollars that he put on the air. And so he has some work to introduce himself, his personal story, to the electorate that is going to, you know, ultimately, I think, elect him in November, but needs to know not just who he is, but what kind of governor he will be. On the flip side, if you've got a race against Tom Steyer, it's going to be a dogfight. Obviously, he'll walk in as the favorite. He won a majority or a

plurality of Democratic votes in the primary, but a whole new electorate shows up in the general election. A bunch of less engaged Democrats who generally vote in Novembers but not in Junes. And he's going to go up against a lot of money and he's going to have to raise it and try to probably not go dollar for dollar, but try to go toe to toe with Steyer and compete for Democratic, independent, and potentially even some of those Republican votes who are going to have to either skip it or find somebody to vote for.

MICHAELSON: Right. Because we've never had a top two governor's race before with two Democrats running. So the big question is where would Republicans go in that scenario?

Let's talk about the L.A. mayor's race right now, which technically is a nonpartisan race, although everybody knows the party I.D. of the folks that are running. And we see right now, we know that Karen Bass is going to advance, according to CNN's projection. The question is, who is she going to run against? Spencer Pratt in the number two position. Nithya Raman gained about 3,000 votes today. She's behind Pratt by about 37,000 votes.

How do you see the math there? Are there enough ballots out there for Raman to close the gap?

DEMISSIE: I think the answer is yes. I think not unlike Tom Steyer, high turnout amongst Democrats in L.A. County is good for Nithya Raman because Spencer Pratt is a Republican and certainly his base is certainly has some Democrats voting for him. But his base, I think, is NPPs, no party preference independent voters, and Republicans within the city. And so the question really is, are there enough?

Like I said earlier, 700,000 votes still outstanding in L.A. County. What proportion of that is in L.A. City? And, you know, I've heard estimates around a quarter million to 300,000. So if this pace of picking up 3,000 votes for every 30,000 is counted, it basically brings it to almost a tie. You know, if she's going to make up the 40,000 or so votes left that she's got to pass Pratt. So I think this one is definitely going down to the wire.

I think it'll be maybe the last race called amongst most of them in the state. And we'll see. I do not have a prediction other than Karen Bass is going to have to wait to figure out who she's going up against.

MICHAELSON: And real quickly, we've got the -- in San Francisco congressional race to replace Nancy Pelosi, Scott Wiener advancing, who's the state senator, against Connie Chan, who's endorsed by Nancy Pelosi. You are a supporter of Scott Wiener. But how do you see this one going? One of the more high-profile congressional races in the whole country.

DEMISSIE: Yes, the race to succeed Nancy Pelosi. There hasn't been a Pelosi, as you said last night on this show, somebody other than a Pelosi or a Burton representing that seat since Kennedy was president. I think it's going to be a dogfight. He's got a very interesting political situation there where you have Connie Chan, who is the progressive left, more left candidate, allied with Nancy Pelosi, who is generally considered a more establishment Democrat, against Scott Wiener, who is, you know, caught in between, a more mainstream general, effective, I would say, obviously liberal legislator in Sacramento.

And Scott did not get 50 percent. He won decisively, but he got in the mid-40s last night. And so I think amongst the D-on-D races that are coming up in November, in the congressional side, it's going to be maybe the most interesting in the state.

[00:10:11]

MICHAELSON: It'll be fun to watch. Addisu Demissie, thanks again for staying up late for us on the East Coast. Hope you'll come visit us next time you're back home in the West Coast.

DEMISSIE: Can't wait to get back to California.

MICHAELSON: Yes. We appreciate it. Great to see you.

President Trump, speaking of Washington, is defending the $1.8 billion Anti-Weaponization Fund. He says he's not sure if it's actually dead, even after the acting attorney general said the administration is not moving forward with the controversial fund.

Here's what he told Kaitlan Collins.

(BEGIN VIDEO CLIP)

MIRANDA DEVINE, POD FORCE ONE PODCAST: The Anti-Weaponization Fund, have you dropped that?

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: No. A court ruled against it.

DEVINE: Yes.

TRUMP: But just so you understand, these are people that have been decimated. These are people that lost their lives over nonsense. And these were many great people. And I gave them pardons. I'm very proud to have given them pardons. And I think they should be reimbursed for a crooked government. The government was crooked.

(END VIDEO CLIP)

MICHAELSON: Clearly that wasn't Kaitlan Collins. My apologies for that.

There are sharp disagreements in the Republican Party over how to handle this issue, with many lawmakers arguing against January 6th defendants being compensated. Republican Senator Thom Tillis is vowing to introduce an amendment to a critical immigration bill to prevent taxpayer dollars from being used to reward Trump's political allies.

(BEGIN VIDEO CLIP)

SEN. THOM TILLIS (R-NC): I think he even DOJ knows that this was a bad idea. And what we need to do is provide finality. We got to either eliminate it, streamline it, guardrail it. It can't go in its current form. And if that's the only choice we should have, we should eradicate it.

SEN. BILL CASSIDY (R-LA): In general, I support what Senator Tillis is trying to do to make sure that the weaponization fund is not just mostly dead, that is truly dead. I want to make sure it's not mostly dead, I want to make sure it's completely dead.

(END VIDEO CLIP)

MICHAELSON: Todd Blanche, who told lawmakers the fund is dead, may officially become the United States attorney general. President Trump announced at a private White House dinner that he will nominate Blanche for that role. He's been serving as acting attorney general for two months since his predecessor, Pam Bondi, was fired.

Blanche, Trump's former personal attorney, has secured indictments against some of the president's personal foes, including former FBI director James Comey. He also has rolled back gun control measures and issued subpoenas to journalists for their sources.

President Trump's pick for the role of acting director of National Intelligence is drawing swift reaction, including from Republicans who have questioned or criticized the selection of Bill Pulte. He currently runs the Federal Housing Finance Agency. On Wednesday, Republican Senator Thom Tillis, who again is retiring, so he doesn't have to face the electorate again, asked Treasury Secretary Scott Bessent about a combative conversation he had last year with Pulte.

(BEGIN VIDEO CLIP)

TILLIS: Did you actually tell Pulte you were going to punch him in the face?

SCOTT BESSENT, TREASURY SECRETARY: No, sir, I actually said I was going to kick his ass.

TILLIS: Good. OK. Good. I share the emotion.

(END VIDEO CLIP)

MICHAELSON: Questions didn't stop there. Secretary of State Marco Rubio was asked about Pulte's intelligence experience or lack thereof.

(BEGIN VIDEO CLIP)

REP. BILL KEATING (D-MA): Have you ever, specifically in the context of the intelligence community, heard the name Bill Pulte?

MARCO RUBIO, SECRETARY OF STATE: In the context of intelligence?

KEATING: That's what I said. RUBIO: No.

UNIDENTIFIED MALE: Vote the yeas are 215 and the nays are 208. The concurrent resolution is adopted.

(END VIDEO CLIP)

MICHAELSON: A remarkable rebuke in the U.S. House, where lawmakers passed a resolution to limit President Trump's war powers in Iran. Four Republicans crossed party lines to support the measure, which must be approved by both chambers. The speaker of the House, Mike Johnson, warned that reining in the president's war powers could have a negative impact on negotiations.

(BEGIN VIDEO CLIP)

REP. MIKE JOHNSON (R-LA): I think it is a very dangerous prospect to take away from the administration and the commander-in-chief right now the ability to negotiate. That's what this does. It weakens us, our position and our leverage in negotiation on the peace in that situation.

Operation Epic Fury is concluded. This operation was immensely successful. The objectives that were well-defined were achieved. The president is now in the process of concluding a peace agreement, and we have to allow him the latitude to do that. And I think a war powers resolution right now is very untimely and a very negative and dangerous thing for the country.

(END VIDEO CLIP)

MICHAELSON: Those comments coming as we see the U.S. and Iran trading strikes and as Iran's foreign minister says, there has been, quote, "no significant progress in talks with the U.S. over the past few days." President Trump, though, claims negotiations are going, quote, "very well."

All this as Secretary of State Marco Rubio, who we just saw back on the hill, doubling down on claims that the war with Iran is over as he was questioned by members of the House.

[00:15:05]

(BEGIN VIDEO CLIP)

REP. SARA JACOBS (D-CA): If the war is over, who won?

RUBIO: We're no longer conducting sustained strikes inside of Iran to degrade their military because Epic Fury is over. We defined victory as destroying their defense industrial base, significantly reducing the number of missile launchers that they possess, significantly reducing their stockpile of drones. And we achieved all of those in addition to destroying what they had left of an air force and wiping out their entire conventional navy. Those are all gone. So I consider that victory. And we did, too. And that was the purpose of Epic Fury.

(END VIDEO CLIP)

MICHAELSON: CNN's Mike Valerio live in Beijing.

Mike, President Trump weighing in on the war today. What did he say?

MIKE VALERIO, CNN CORRESPONDENT: Well, he said that everything is going fine. I mean, paraphrasing for our friendly conversation, but I think it's stunning to put that comment from the Oval Office with what we've heard from Iran's foreign minister, as all of us are waking up on this side of the world digesting what has been said in Tehran.

We're talking about Abbas Araghchi, who's gone farther, Elex, than what you said in the intro with no progress, saying that there is no formal negotiating process happening between the United States and Iran.

Let me repeat that. No formal negotiating process happening right now. He did add, however, that messages between the U.S. and Iran continue to be exchanged, and communication has not been cut off. But let's listen to the president talking about how he sees this all, and then we'll talk more on the other side. Let's listen.

(BEGIN VIDEO CLIP)

TRUMP: The negotiation itself has gone very well, actually. Very well.

UNIDENTIFIED REPORTER: Mr. President --

TRUMP: It could happen. I mean, if it happens and it might not happen, you know, who knows? But if it happens, it could happen like over the weekend. The blockade is the most powerful thing. I think the blockade maybe has more impact than the bombing has. But the blockade that we have, the naval blockade is incredible. Not one ship has gotten through, unless we wanted it to. And people respect it a lot.

(END VIDEO CLIP)

VALERIO: OK. So optimism. But who knows when this deal is going to go through. I think it's also interesting to point out, as we've been digesting comments from Tehran, that Iran is saying this whole thing relies on Lebanon, whether or not the ceasefire there works, or else all bets are off.

I think it's also interesting, before we move on, Elex, in terms of somebody saying one thing and then, well, now for something completely different, Israel's ambassador to the United States entered the chat a few hours ago, Yechiel Leiter, telling reporters that, you know, don't really think about the phone call that we were talking about two days ago. The explosive phone call with President Trump calling Benjamin Netanyahu, and, you know, an expletive ridden phone call of expletive crazy. And it goes on and on and on.

Ambassador Leiter telling reporters today that this is essentially just a lover's spat. I have the quote for you here, "Taking one bleep from all of those conversations and making that the hallmark of their relationship is a mistake. Lovers have spats. This may have been a little lover's spat this week, and that's OK."

But is it really OK when the Strait of Hormuz has been closed for almost 100 days, that will mark the 100-day point of this war coming up on Sunday when I come home to California, have a heart attack whenever I fill up my Chevy Equinox. You know, this thing, there's still a huge lack of clarity where negotiations are going -- Elex.

MICHAELSON: So we've learned lover's spat and locker room talk as two terms in politics. Thanks to the Trump team and around them.

VALERIO: Yes.

MICHAELSON: So let's talk about, you're talking about Israel. We've also got the issue of the Israel-Lebanon ceasefire. Where are we at with that?

VALERIO: Right. So the ceasefire is essentially Hezbollah stops firing and then moves out of southern Lebanon back to its stronghold in Beirut. That is essentially the agreement. But what remains unclear is whether or not there's going to be a time frame for Lebanon's army to take control of these areas of southern Lebanon, where Hezbollah fighters are. This is called like a pilot zone.

So it's unclear when are these pilot zones going to be established. This is like a safe passage, safe passage region for Hezbollah fighters to make their way north. And then these negotiations are between the state of Lebanon, Israel and the United States. As far as I was able to tell, Hezbollah was not part of these negotiations that were at the State Department that wrapped up earlier today.

So we're waiting to see how does Hezbollah respond to this, and what is the timeframe for creating these pilot zones to get those fighters out of southern Lebanon, which, of course, has been Israel's entire problem as their settlements, as their communities on the northern fringes of the Israeli border have come under attack, you know, for months and years -- Elex.

MICHAELSON: Good point, Mike. And next time you come back to town, some good news on the gas front, by the way.

[00:20:02]

We are now at $5.99 a gallon in California. So we're now under $6 a gallon. So we're getting a bargain.

VALERIO: Oh.

MICHAELSON: If you fill in here.

VALERIO: Wow. Wow.

MICHAELSON: All relative I guess. Mike Valerio live in Beijing. Thanks, Mike. Always fun to talk with you.

Major economic forum is underway in Russia's second largest city despite a symbolic slap in the face from Ukraine just hours before the event began. Ukrainian drones rained down on St. Petersburg overnight into Wednesday, striking a major oil terminal.

The forum, which is often called Putin's Davos, is an annual event showcasing the Russian president's home city. Ukraine says another target was a Russian warship in dry dock near St. Petersburg. The strikes came a day after Russia carried out one of its deadliest attacks on Ukraine in months. President Zelenskyy is putting Moscow on notice that more is coming.

(BEGIN VIDEO CLIP)

VOLODYMYR ZELENSKYY, UKRAINIAN PRESIDENT (through translator): They must know that if they use drones and missiles against us, we will do the same. And it is only a matter of time before we can increase the scale of our responses.

(END VIDEO CLIP)

MICHAELSON: Scott Pelley is speaking out after being fired from "60 Minutes." Coming up hear what he says happened after clashing with his new CBS bosses, who are now, I guess, his old CBS bosses. Plus the New York Knicks make a historic return to the NBA Finals up against the San Antonio Spurs. We'll discuss game one next with my guest, two-time NBA All-Star Baron Davis in the house to break it down. Former Knick.

Stay with us. You're watching THE STORY IS.

(COMMERCIAL BREAK)

[00:26:04]

MICHAELSON: Game one of the NBA Finals lived up to the hype for fans, especially New York Knicks fans who won a back and forth battle against the San Antonio Spurs. The Knicks extending a playoff win streak to 12 games, the second longest in the history of the NBA. Knicks Star guard Jalen Brunson finishing with a game high 30 points. Victor Wembanyama and the Spurs look to even the series in game two, set for Friday night in San Antonio.

Joining me now is Baron Davis. He's a two-time NBA all-star, former member of the New York Knicks and founder of "Business Inside the Game."

Welcome back to THE STORY IS. The last time you were here, you predicted that the New York Knicks would win the NBA Finals, which a lot of people thought maybe was far out thing to say, and not a lot of people were backing. You're looking pretty smart right now with how they did on game one. How do you think they pulled this off?

BARON DAVIS, TWO-TIME NBA ALL-STAR: Well, they just, you know, in true Knick fashion, if you look at the 11-game winning streak that they had leading up to the finals, you know, they were just a buzz saw. Everybody you know shares the ball. Anybody can beat you up. And they're always the hardest playing team, you know, on the offensive end and the defensive end.

And when you look at the Jalen Brunson and what he's been able to, you know, accomplish down the stretch, he's just unstoppable. Then you have KAT, then you have OG. Then you have Mikal Bridges.

MICHAELSON: And Josh Hart with 14 rebounds.

DAVIS: And then you have Josh Hart, which I was going to say. You have a whole bunch of other guys who are playing, you know, at an unbelievable level. Josh Hart, you know, doing it all. And so the Knicks can beat you with scoring, but they can also beat you because they're athletic, they're tall, and they can match up with anyone.

MICHAELSON: You played guard for the Knicks. You know what that's like. You know the pressure of what it's like to play at Madison Square Garden. What is it about Jalen Brunson and clutch moments? He seems to be drawn to them in a way that very few players in NBA history have.

DAVIS: Yes. He has the same magnetism as an Allen Iverson to me. You know, a guy who lives in the moment. The lights are never bright enough. You know, they can't be brighter. Right? He's going to always, you know, take that shot. Right? He's going to always live in that moment. He has the, you know, he -- I mean, he has the fortitude. He has the mental drive. But when you watch him down the stretch, he's just so patient.

And I liken him to Allen Iverson because, you know, big moments, you know, are time for big time superstars and big time plays. And he's been able to do that for the Knicks time and time again.

MICHAELSON: And not every player, not every great player necessarily wants to hand -- the ball in their hand at the end. But there's something like Kobe Bryant was like that wanting the ball, Michael Jordan obviously, and clearly Jalen Brunson is doing that as well. You know New York.

DAVIS: Yes.

MICHAELSON: New York has not won a title since the '70s. Right? Haven't been in the finals since 1999. We have some video of a watch party in New York. They're going to have game three is going to be in New York. Tickets are to be like $150,000 a ticket or whatever. It's going to be insane.

DAVIS: It'll be worth it.

MICHAELSON: Talk about what this means for New York City.

DAVIS: You know, playing for the Knicks, I played my final year for the Knicks and I always said I had one of the best experiences as a basketball player. They love the team. The fans are so passionate that, you know, their world revolves around basketball. And, you know, you go to the -- once you step foot into the Garden, you just know that it's the Mecca of basketball. Like where basketball, entertainment. And you know, incredible, you know, performances happen. So the fans are the best. Like the -- and that is the one thing. And, you know, New York City that I think unites all sports is being a Knick fan.

[00:30:11]

MICHAELSON: Yes. What about the Nets? That's a whole other thing.

DAVIS: Oh, that, I forgot. I forgot.

MICHAELSON: They're still there. Yes. That's like L.A. is really about Lakers town. Sorry, Clippers.

So, let's talk about what's going on in terms of the other team, the San Antonio Spurs. A lot of people didn't think they'd get here this soon. They've got Victor Wembanyama, who is unlike any player we've ever seen in NBA history.

First of all, what do you make of him and maybe the adjustments that that team needs to make in game two to make this thing a series?

DAVIS: I think, when you look at the score, you know, it was -- you know, the Knicks wound up winning by, I think ten points, ten -- ten, 12 points.

MICHAELSON: It was closer than that.

DAVIS: But before that, the last two minutes of the game, it was very close.

So, I think the Knicks got them tonight just from, you know, I would say, a maturity perspective. And an experience perspective, like understanding what a big moment is.

I think Wemby, he's a phenomenal player. Like, he's going to be the face of this league for years and years to come. He had a great game.

But at the end, I think that, you know, their -- their youth, right? Or inexperience caught up to them with taking bad shots, some turnovers, and not really knowing where to settle in on the offensive end to really, you know -- to -- to keep the score going, right? Or even keep the score close.

And I think that's where the Knicks will have the advantage because, you know the ball is going to be in Jalen Brunson's hands, or it's going to KAT, and everyone else is going to benefit off of that.

MICHAELSON: And this is real, real quick. At the end of his career, is Victor Wembanyama the best player of all time?

DAVIS: I would like -- I would like to hope so. I think, you know, for us, as older players and retired players, we want to see the next generation become greater. And so, you know, I love Victor Wembanyama's game. But I'm all for Jalen Brunson, baby. Mixtape.

MICHAELSON: Well, the O.G.'s like to hate on the young guys. So, it's interesting that you say that.

Baron Davis, thank you so much. We appreciate it.

DAVIS: Thank you so much, Elex. MICHAELSON: Stay with us. Up next, we'll talk politics. Our panel is breaking down California when we come back.

(COMMERCIAL BREAK)

[00:37:02]

MICHAELSON: Check back on the two most closely watched primaries in California.

Republican former FOX News host Steve Hilton is leading the governor's race. Democratic former attorney general Xavier Becerra, hot on his heels, and Democrat billionaire Tom Steyer is holding down third.

And in the L.A. mayor's race, current Mayor Karen Bass has punched her ticket for the November ballot. Republican reality star Spencer Pratt, now community activist, and Democratic City Council Member Nithya Raman are duking it out for second.

Let's get into it with our political panel: political consultant Elizabeth Ashford and Will O'Neill, who is chair of the Orange County Republican Party. Elizabeth does work with Democrats.

So, your thoughts? Where are we at in terms of the -- the governor's race? Steyer hoping that he can make his way into second.

ELIZABETH ASHFORD, POLITICAL CONSULTANT: Sure. I think I think Xavier Becerra is going to be the next governor of California, because I think that, you know, what we're seeing now? He's going to advance into the primary -- excuse me, into the general.

And I think that, you know, the numbers are going to follow. So, I think we really are looking at and should anticipate that.

MICHAELSON: What do you see as Steyer's chances to get into the top two at this point?

WILL O'NEILL, CHAIR, ORANGE COUNTY REPUBLICAN PARTY? At this point, the three biggest winners are going to be Hilton, Becerra, and the consultants that made all the money from Tom Steyer.

I mean, he spent $216 million of his own money. It's unbelievable. He's probably going to take third with that.

MICHAELSON: Yes.

O'NEILL: So. that's -- those are the three winners.

MICHAELSON: Well, and the losers, of course, are all those consultants and TV stations and everybody else in the fall. Because he's not going to be spending that kind of money if he's indeed out.

ASHFORD: Right.

MICHAELSON: But let's talk about that.

ASHFORD: OK.

MICHAELSON: The fact that he spent $200 million --

ASHFORD: Yes.

MICHAELSON: -- and, potentially, is not going to make the top two. Because people think in politics, money is everything. I mean, he outspent Becerra, like, 200 million to 1.

ASHFORD: That's right. And -- but as we know from California history, again, the road to the governor's office is littered with the body of very wealthy people who make this mistake, which is that it really doesn't just buy the office. The office is just really not for sale in that way.

You have to have a base. You know, you have to have a ground game. And you have to have the momentum that comes with endorsements and other powerful people getting behind you. That's what Xavier has.

MICHAELSON: In terms of Hilton. We saw him today out on the trail already. The other candidates were quiet.

Hilton came on with us last night. He spoke to a lot of people. He did a press conference today. He was kind of everywhere.

Where do you see, as his campaign? What do you see of the likelihood of him winning? She's already giving it to Xavier Becerra in terms of a strategy of winning the state.

O'NEILL: Well, California remains a blue state, so he's going to need to thread that needle really carefully.

But you've met him. I've met him. I was actually at his victory party last night. The man has so much energy. And so, he's going to spend a lot of time on TV getting a lot of free media. He's going to spend a lot of time going around the state talking to people.

But look, he doesn't have $200 million to suddenly show up on airwaves. So, he's going to have to get incredibly creative. And I -- I think Steve Hilton is actually that creative person.

MICHAELSON: Well, he's -- that's where he comes from. Right?

ASHFORD: Right.

MICHAELSON: He has a marketing background. He's a great communicator. And so, he's able to get a message out there. The question is, are people going to be looking for that kind of message from somebody who is a Republican?

Traditionally, the numbers would probably start off, like, a 60/40 race, just based off of party registration. And, indeed, Xavier Becerra is the next governor.

You know, a thing or two about the governor's office. Your dad worked for multiple governors. You've worked for multiple governors from both parties.

ASHFORD: Yes.

MICHAELSON: You worked for Governor Schwarzenegger. You worked for Governor Brown. You've worked for Kamala Harris. You know, the Newsom team. You've got all that.

Talk about the job of governor.

ASHFORD: Sure.

MICHAELSON: And what the quote, unquote, "Becerra era" would look like, especially coming off the last three governors who all had outsized personalities: Arnold Schwarzenegger, one of the biggest stars in the world; Jerry Brown, who was governor four times. His father was governor twice. Gavin Newsom, who could be the Democratic nominee.

ASHFORD: Right.

MICHAELSON: Xavier Becerra, different personality.

ASHFORD: Very different personality. I think what he brings, though, is he really understands how Congress works.

He also understands how a White House administration is, you know, a cabinet-level position.

And so, I think we would have somebody in the role who would bring a lot of real innate knowledge about our relationship to the federal government, which is super important right now.

Also, the rise, really, of the children and grandchildren of, really, you know, blue-collar, working-class immigrant families. You know, really says a lot that somebody like him can just, you know, catapult up to this spot.

Because there's a huge movement right now. These people have come of age. They've paid their dues. They've paid their taxes. And I think that, you know, Xavier is going to come and lead the state. So, that's -- that's the era.

MICHAELSON: Do you think, though, that people may try --

ASHFORD: That's the era.

MICHAELSON: -- to push back on him more in a way that they maybe haven't with the others? The legislature, some of the special interests, other folks that may try to push him.

ASHFORD: Well, I mean, that's kind of the whole point, right? That's the checks and balances.

MICHAELSON: Yes.

ASHFORD: I do think it will be really interesting if he's -- you know, when he's in office, you know, the speaker of the assembly, who I work for, you know, also comes from a very similar background, very similar sets of values.

I mean, it could be quite copacetic. You know, it really will depend.

MICHAELSON: Yes.

ASHFORD: But -- but, you know, to -- to the point about, you know, Steve Hilton, Steve is a killer campaigner. You know, I watched him work in London, seeing him here. I mean, it's going to be a dynamic time, and a lot of issues are going to be debated. It's going to be exciting.

MICHAELSON: Yes. And we hope to host a debate right here on CNN.

ASHFORD: That's right.

MICHAELSON: Let me throw it out there, manifesting it.

But -- but before all of that, and -- and, certainly, Steyer is focused on this -- is the counting. And in California -- I spent the day today at the registrar of voters --

ASHFORD: Yes, I saw that.

MICHAELSON: -- at the vote center in the city of industry.

We have made a choice, which is the choice to prioritize allowing people to vote by mail up until the very last day, where their ballots can be postmarked on the very last day, at the expense of counting quickly.

We have, by law, up to seven days for your ballot to be received as long as it was postmarked on election day. And some folks say this has increased voter participation. It's great.

Other folks say we're a laughingstock around the country. What say you, Will O'Neill?

O'NEILL: We are a laughingstock. But even Democrats are admitting that right now. The -- taking a month to count ballots is absurd, especially when you see large states like Texas, especially Florida, that we all kind of remember what it was like in 2000 with the hanging chads and taking forever to count in Florida. They totally revised their system to make sure people knew on election night.

And a state that large finding out that quickly is really important.

But look, I think at the end of the day, we're probably going to see the U.S. Supreme Court step in on this anyway. They've got a case right in front of them, interpreting federal law, federal statutes --

MICHAELSON: Yes.

O'NEILL: -- defining election day. So, there's a pretty good chance the U.S. Supreme Court, between our

June primary and our November election, is actually going to say, No, no. You can't take ballots that aren't received by election day, and that might actually reform California.

MICHAELSON: I mean, part of the reason that those other states count faster is they don't do this, where they allow these ballots to come in late. They have a deadline. If you're going to vote by mail, you got to do it by a certain date before election day.

Do you think that that reform makes sense?

ASHFORD: I think it would make sense, because I think that it is -- it's hard to -- to sort of wait it out and see, you know, what's happening.

Although for people for whom their entire lives don't revolve around politics, it's probably just fine.

I will say this. You know, Chad Bianco was seizing a bunch of ballots and trying to recount them just a few weeks ago as a campaign tactic.

And there's also the argument that, if it's done too quickly or somehow miscounted.

MICHAELSON: Yes.

ASHFORD: And we somehow have overlooked very important, you know, ballots.

So, what's the answer? I kind of look to Shirley Weber to -- to maybe lead on this, because --

MICHAELSON: Who's the secretary of state in California.

ASHFORD: She's the secretary of state, you know, very astute person. And, you know, look to her.

MICHAELSON: By the way, for people that are concerned about funny business or fraud, you can go watch it yourself. This is an open process. The counting happens on a livestream. You can show up there. You can book a tour. You can walk through the process as I did today.

ASHFORD: Wow.

MICHAELSON: And seeing it up close and personal -- any person out there can do this -- may make you feel better about the process.

[00:45:12]

There are a lot, a lot of steps that they go through to try to prevent fraud in California. That's part of the reason it takes so long to count.

Elizabeth Ashford, Will O'Neill, thank you both for coming in. We appreciate it. ASHFORD: Thanks for having us.

MICHAELSON: Always fun to talk with you.

Still ahead, police in Chile fire water cannons in clashes with protesters. Details on why thousands of people marched in the streets of Santiago. That's next.

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[00:50:15]

MICHAELSON: Welcome back to THE STORY IS. I'm Elex Michaelson. Let's take a look at today's top stories.

Israel and Lebanon have agreed to implement a ceasefire to end hostilities, but it is contingent on Hezbollah's actions. A joint statement was released after the latest round of us mediated talks in Washington on Wednesday.

The ceasefire would be contingent on a, quote, complete cessation of Hezbollah fire and removal of all Hezbollah forces from Southern Lebanon.

Police clashed with demonstrators in Chile's capital during a protest against deep cuts to education and other austerity measures.

Thousands of students, teachers, and activists marched against the presidents plans for $6 billion in cuts to government spending over the next 18 months.

The polices [SIC] have drawn -- policies have drawn criticism from opposition groups and some within the governing coalition.

North Korea's leader is making it clear his country will keep ramping up its nuclear program. According to state media, Kim Jong-un called for a, quote, "exponential increase" in the country's atomic arsenal. He spoke during a visit to a new nuclear materials production factory.

North Korea is widely believed to already have dozens of nuclear warheads.

Another shakeup at CBS's "60 Minutes." Longtime correspondent Scott Pelley has been fired. His exit centers around a dispute with new leadership at "60 Minutes" and CBS News that has been playing out very publicly.

More now from CNN's chief media analyst, Brian Stelter.

(BEGIN VIDEOTAPE)

BRIAN STELTER, CNN CHIEF MEDIA ANALYST (voice-over): CBS News is in crisis mode following Scott Pelley's firing, with CBS staffers and viewers wondering, is this about culture or politics?

SCOTT PELLEY, FORMER CORRESPONDENT, "60 MINUTES": Those stories tonight on "60 Minutes."

STELTER (voice-over): Pelley says politics are at play, claiming the new owner of the network is apparently trying to, quote, "curry a moment of favor" with the Trump administration.

BARI WEISS, EDITOR IN CHIEF, CBS NEWS: I'm Bari Weiss, editor in chief of CBS News.

STELTER (voice-over): Weiss allies deny Pelley's charge. They say she's trying to reform the culture of "60 Minutes," a famously insular show that she believes needs to be dragged into the digital age.

Last week, Weiss ousted several top producers and two correspondents amid her controversial efforts to overhaul the entire news division. Pelley shouted out one of his fired colleagues during a recent Emmys ceremony.

PELLEY: I see Sharyn Alfonsi there in the audience.

STELTER (voice-over): And he was incensed by the firings days later. On Monday, he tore into new "60 Minutes" executive producer Nick Bilton, a former tech reporter with little TV experience.

In front of the staff, Pelley depicted Bilton as unqualified for the job and said he'd "never be welcome here." Pelley also accused Weiss, who was not in the room, of murdering "60 Minutes."

The comments leaked and became national news, even on CBS.

UNIDENTIFIED MALE: According to CBS News management, efforts were made to see if both sides could reach common ground. Pelley met with senior management of CBS News last night, and no agreement could be reached.

Pelley was then informed by "60 Minutes" executive producer Nick Bilton that CBS News and "60 Minutes" would have to part ways with Scott. He was terminated for cause.

STELTER (voice-over): In a letter justifying the firing, Bilton wrote that Pelley, quote, "hijacked my first meeting with staff to disparage me, my qualifications, and my intentions with remarkable incivility and contempt."

Pelley has no regrets. He says, quote, "The leadership of '60 Minutes' is no longer recognizable. The principles I hold dear are gone, and so I must leave, as well."

On Wednesday, he disputed Weiss's version of events, saying Weiss misled the staff when she said that CBS tried to, quote, "find a way back" and keep Pelley at the network.

STELTER: So, Pelley is not going down without a fight, and he has lots of support from CBS News veterans, who say the show does not need fixing in the first place.

They point to the high ratings and the stacks of awards. They fear that this overhaul by Paramount is an attempt to appease President Trump at the same time, Paramount needs Trump administration approval for its deal to buy CNN and the rest of Warner Bros. Discovery.

My sources close to CBS News management reject that. They say this is not about politics. It's about culture change.

Ultimately, viewers are the judges. Viewers get to decide if brands like CBS are living up to their storied legacies and valuable reputations.

Brian Stelter, CNN, Jackson Hole, Wyoming.

(END VIDEOTAPE)

STELTER (voice-over): Ahead. In our next hour, well take you inside Iran, where our Fred Pleitgen and a CNN team are now on the ground. Stay with us for that report.

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[00:59:26]

(BEGIN VIDEO CLIP)

KENAN THOMPSON, CAST MEMBER, NBC'S "SATURDAY NIGHT LIVE": Now, some people out there, they might look at you and see -- I don't know -- little pound puppies, underdogs. But in here, and in here, we know better. This is not the dog park. No, it's not a walkie. It's not a zoomie. No, sir. This is the Stanley Pup.

(END VIDEO CLIP)

MICHAELSON: Comedian Kenan Thompson there, announcing the NHL's third annual Stanley Pup, which aims to raise awareness about pet adoptions.

Every single furry friend on screen will be up for adoption. It's set to air Monday across various networks, including HBO Max.

Thanks!