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Thursday, July 17, 2014

CBS CEO says he will look at CNN if it goes up for sale, (NASDAQ: FOXA)

CBS Corp Chief Executive Officer Leslie Moonves said on Thursday the media company would take a look at Time Warner Inc's cable news network CNN if it goes up for sale as part of a merger with Rupert Murdoch's Twenty-First Century Fox Inc. Moonves was asked by reporters at a Television Critics Association meeting whether he wanted to purchase CNN if Fox decides to sell the channel in order to clear regulatory hurdles in a possible merger with Time Warner. Fox's initial offer was rebuffed.

Twenty-First Century Fox, Inc., formerly News Corporation, is a diversified global media and entertainment company with operations in cable network programming; television; filmed entertainment; direct broadcast satellite television, and other, corporate and eliminations. Shares of FOXA fell by 0.7% or $-0.23/share to $32.77. In the past year, the shares have traded as low as $29.42 and as high as $36.43. On average, 13034500 shares of FOXA exchange hands on a given day and today's volume is recorded at 38800580.