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Saturday, July 26, 2014

Murdoch's Fox open to giving Time Warner board seats in new bid - Bloomberg, (NYSE: TWX)

Rupert Murdoch's 21st Century Fox is open to giving Time Warner Inc shareholders seats on the new company's board if its takeover bid succeeds, Bloomberg reported on Saturday, citing people familiar with the situation. Board representation could appear in a revised proposal, Bloomberg cited one of the people as saying. It did not say how many board seats were being considered and added the two sides are not currently in negotiations.Time Warner's board rejected Murdoch's $80 billion takeover offer earlier this month, but the Fox chairman and chief executive officer is expected to continue the pursuit.Bloomberg said the offer of board seats as part of an increased bid could help allay concerns of Time Warner investors about the dual-class stock structure that gives control to Murdoch, 83, and his family.Nathaniel Brown, a spokesman for New York-based Fox, and Keith Cocozza, a spokesman for Time Warner, failed to comment on whether the companies have discussed board seats, Bloomberg said.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.17% or $0.98/share to $84.99. In the past year, the shares have traded as low as $57.59 and as high as $88.13. On average, 7499850 shares of TWX exchange hands on a given day and today's volume is recorded at 5752057.