68°

Topics

HBO (tv network)
Fox bid for Time Warner could reach $91 billion, analyst says
Fox bid for Time Warner could reach $91 billion, analyst says

Wall Street is waiting for Rupert Murdoch's next move. Even though Time Warner said it wasn't interested in being acquired by Murdoch's 21st Century Fox, most investors believe that Murdoch and his team would continue their pursuit of the prize. Investors drove up Time Warner stock 17% to $83.13 on Wednesday after Fox confirmed that it had made an $80-billion offer for Time Warner, which owns HBO, Warner Bros. studio, TNT, TBS, Cartoon Network and CNN. Fox shares, meanwhile, declined 6% to $33. But the stock did not collapse -- a welcome sign for Murdoch and his family. The trading signaled that investors might be inclined to go along with Fox's acquisition plans....

Loading