Rupert Murdoch, executive chairman of News Corporation, speaks during a panel discussion at the B20 meeting of company CEOs in Sydney, Australia, July 17, 2014. (AP Photo/Jason Reed, Pool)
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Time Warner, owner of many highly prized assets from HBO to Warner Bros, has rejected Fox's initial cash-and-stock proposal of $85 per share.When Time Warner's board rebuffed the approach it indicated it believes now is the wrong time to sell because the environment isn't conducive to getting the best price, people familiar with Time Warner's thinking said Wednesday. As the media industry landscape evolves, technology companies such as Google, Apple or Amazon could also be tempted into bidding for Time Warner as opposed to trying to produce video content on their own, people familiar with Time Warner's thinking said.Time Warner shareholder Mario Gabelli told Reuters Wednesday that he thought both Google and Apple were possible bidders. People familiar with Comcast told Reuters at that time that while it had historically been intrigued by the idea of buying Time Warner Cable, such a deal was not high on its priority list until Charter started pursuing the company.
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