when you heard about the mow potentially merger of twenty-first century fox and time warner, what wasrst thought? >> i had to think it through a little bit, as gerald levin, was mentioning my former boss was mentioning before the break the corporate culture is very different between two the the country companies. putting that aside this is natural rao reaction on rupert and chase's part to the merger of fox and time warner cable, because at end of day what they're facing in television and broad wand space, one company that will dominate television service and high speed broadband service in 24 of the top 25 u.s. cities. which you could argue where most of the wealth in the united states is located. so, you're going to have behemoth to negotiate with. unless you bulge up and are the largest operator of cable networks you will not effectively negotiate with them. liz: lookings let's get people up to speed if they happen to tune in and haven't been watching all day. time warner reject ad bid for $85 a share. we're not there yet today. we closed below that for time warner. for time warner

first time warner stepping in the cam it was a violent end from so were they on bush to us and all the beaten so people were running you drop your back yard shooter forget yourself so it's like a separate ing from being loving w when we're coming we're singing songs holding hands with this guys are hiding in the bush and they just started whipping us bitten and i was really angry that time i said the first person i was shoot when i finished training would be my trainer or look for the people of beating us because you don't understand why they just beating you for no reason. so those scaring you sit down get out you look behind someone to slap your kick you for no reason you can't talk you can do anything it was an exciting to be trained you was tariff on because i'm sure and even died in the training. did you ever go back to see your trainers after you've graduated and never. i can't even remember any of them now but at mile tell me a little bit about this fighting itself were there actual battles or were there are more like raids those bottles who do pan where. how your i want to expl

speaking of insiders, former aol time warner chief operating officer bob pittman is also the cofounder of mtv and he has firsthat a merger with time warner looks like. he's going to speak with us live. way to you hear what he has to say. yesterday janet yellen-- what she suggested that it might be a bit inflated. doesn't she have any of the prizes for investors today? why are we seeing near record highs? ♪ really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. ♪ liz: with the d

. >> jeff bewkes, who runs time warner inc., he thinks it is better for the company to remain independent. he has been selling off assets. when he first took over, he sold aol and timeun off warner cable. recently, he's been off -- recently, he spun off time inc. it is a much cleaner and more focused company in terms of being a pure play video entertainment business, which would fit in with fox. >> was in google rumored to be a better for time warner? bit mores a far-fetched. we don't have reporting that the kids anything real with any kind of silicon valley company. philosophically, it makes sense that some of the emerging silicon valley companies with want more content. youtube, it is a business that has not found its footing. it is growing but it is unclear what the business model is. time warner has a great business model. whether it is google or facebook or a silicon valley company, they would like to have because it is a content company with a figured out business. that is more far afield. there are not any real discussions. the thing with fox makes more sense from a balance sheet and philosophical perspective. >> isn't there a

on to the big story of the day, time warner rejects twenty-first century fox's $80 billion takeover bid. time warner deciding it was not in the best interest of the company or shareholders to accept the deal. twenty-first century fox is of course the parent company of fox business. joining me our very own charlie gasparino. we have adam shapiro along with james freeman from the "wall street journal." charlie, i will start with you. you've been reporting a lot on this. >> i go back to what i said last week. if rupert murdoch made a bid, it would be rejected. and there is, if you go to silicon valley right now, all you hear is talk about content. the googles, you name it, any major company with cash on its balance sheet wants to buy content and i said the minute time warner broke up, it was in play. i think this is not, listen, if you know rupert murdoch, i know you want to get to him, let me make the point. if you know rupert murdoch, he is one of the best in business bidding out these things. he knows what he is doing. i'm sure he will make another bid. i just have a feeling that this i

consolidation in the european media industry and the deal comes out or time warner rejected a billion dollar takeover offer by rupert murdoch's twenty first century fox now analysts expect mr murdoch will make an improved offer to acquire time warner and the sale of fox's european assets could prove that the company with will then have enough extra financial. munition that it needs to purchase what it wants now in the deal announced friday twenty first century fox would retain its minority stake in b. sky b. and by doing so twenty first century fox remains well positioned to take advantage of any future deals aimed at consolidating europe's telecom and media industries now the deal still needs approval from regulators along with b. sky b. as minority shareholders and not to mention antitrust officials are definitely going to be scrutinizing how the takeover will affect customers choice but if approved the deals for the italian and german assets would allow b. sky b. to offer premium sports and movie services to roughly twenty million customers across europe now b. sky b. said the new entity would be the number one pay t.v. provider in thr

the european media industry and the deal comes out through time warner rejected the billion dollar takeover offer by rupert murdoch's twenty first century fox now analysts expect mr murdoch will make an improved offer to acquire time warner and the sale of fox as european assets could prove that the company with will then have enough extra financial. munition that it needs to purchase what it wants now in the deal announced friday twenty first century fox would retain its minority stake in b. sky b. and by doing so twenty first century fox remains well positioned to take advantage of any future deals aimed at consolidating europe's telecom and media industries now the deal still needs approval from regulators along with b. sky b. as minority shareholders and not to mention antitrust officials are definitely going to be scrutinizing how the takeover will affect customers choice but if approved the deals for the italian and german assets would allow b. sky b. to offer premium sports and movie services to roughly twenty million customers across europe now b. sky b. said the new entity would be the number one pay t.v. provider in th

that means for net neutrality now two mega-mergers are currently under review the first is between comcast and time warner cable and the other is between eighteen t. and direc t.v. now time reports that a senate hearing last week quote comcast nine hundred eighty argued that massive consolidation in the telecom industry is good for consumers good for innovation and good for the free market they warn that if the government does not allow the mergers to go through incumbent telecom companies would no longer be able to invest in basic internet infrastructure leaving consumers to pay more for fewer internet and t.v. options so tom what do you think about this argument of consolidation is it is it good for consumers and good for innovation or is this just kind of a cyclical argument here that argument is the exact opposite i mean it's just it's it's just of a fundamental blatant lie if if you live in canada right now whether you have a piece of copper coming in your house or telephone wires with you have a cable coming in your house for the fiber coming to your house you can choose from one hundred different c

first, maybe the only time during the entire campaign, . >>> virginia's senate candidates squared off for the first time in person today. the incumbent, senator mark warner, and republican challenger ed gillespie traded bashes in a debate at green briar resort in west virginia. the most heated exchange came over women's health issues. >> if you are in the senate, would you vote to overturn roe v wade. >> that is not what this is about. >> did you not also support a personhood amendment? i'll give you the documentation. >> when did i support that? >> you will get the documentation for it? >> and will you always acknowledge -- >> i would like to see that. >> would you vote to overturn roe v wade. >> there will not be a vote to overturn it. that is a supreme court decision. >> that debate was hosted by the virginia bar association. gillespie is a former republican national committee chairman. senator polls put senator warner ahead in the race. >>> a stuck drawbridge drove ocean city beach goers today. it became stuck open this afternoon because of a mechanical issue. the bridge is only one of two ways in or out of ocean city. it three hours to lower the dra

. >> now, the saga between 21st century fox and time warner remains unresolved. a week ago, cnbc firstted time warner rejected fox's $85-a-share bid. now the stock trading just below that mark, about $84.20 today. >> our david faber has been doing some amazing reporting on this story. he joins us along with rob cox, editor at reuters "breaking views." david, a lot of numbers being thrown around right now. what are you hearing right now about the give and take between the two sides? >> you know, it's funny, bill, you said it perfectly, the give and take. you've seen so many of these situations in the past, and that's exactly what's going to go on for quite some time. so, we are going to hear and see many different things, some of which may turn out to be true, others a voyage, where if and when they eventually get down to doing a deal may not be true. that said, as i've been reporting in recent days, certainly the fox side and its advisers are trying to send a message of discipline. what that will actually comprise, perhaps not any more cash in a revised offer. it also means, what i'm h

twenty-first century fox is the parent of the fox business network. >>> the possibility of a merger between time warner and twenty-first century fox as we just said along with upbeat earnings reports pushed markets higher today. the dow set a now knew record at the. >>> bmw says it is issuing recall because other automakers with similar systems reported problems. the airbags from japan's supplier, takata, may explode, shooting shrapnel all over inside of the car. >>> hershey's raising prices of chocolate, kisses, reese es other candies by 8%. the nation's leading candy producer says the recent for price hike to combat rising food and transportation costs. >>> those are some of the hot stories on foxbusiness.com. >>> all right. we'll go to the white house right now. president barack obama announcing new sanctions against russia. fox business senior washington correspondent peter barnes is standing bit right now in the d.c. bureau to tell us what he is expecting the to say. peter. >> the president expected in briefing room any minute to announce a new round of sanctions against russia over its involvemen

. >> charlie: what's in the mind of time warner? >> firstf all, i think he's a rational c.e.o. >> charlie: a man who became a c.e.o. of spun-off property. >> it's the cow that keeps giving. it's been phenomenal in terms of what he's given back. >> he's one of the ware c.e.o.'s who made his company smaller. he spun off time warner cable, aol and he's made it a more edible target. the first thing in their mind is putting to their shareholders why they're worth more than the current offer and maybe future offer from fox. so we'll see probably around the time of earnings in early august is them laying out a case which says we've now done the hard a work of cleaning out the businesses we didn't feel belonged in this business. we now have a video focus company, warner brothers movies and importantly this massive television empire h.b.o. and turner and this is where the profits come from. >> not only did he give value to the share holds. 1.2 billion shares outstanding when he spun off the cable business only 888 million. it's a simple concept. i do

reports is emerging twenty-first century fox selling assets to boost the bid for time warner. twenty-first century fox is the parent of this network. you the deal momentum, charlie. what is it worth? >> this is wonderful having to report on your boss's buying activities. melissa: we say all complimentary things. >> mr. murdoch, i would say this, the deal as positioned right now it is easy to say no to. it is mostly stock, right? you're essentially asking -- melissa: easy to say no to your boss's bid? >> yeah. melissa: charlie, thinking hard where you need to. >> he will have to up the cash portion of this bid. even then, one thing about, what is different about this deal or as opposed to mr. murdoch went after dow jones, dow jones worked at "wall street journal" for a long time, dow jones was crummy company, lousy management of the jeff bewkes has done a decent job. he knows as i have been reporting other potential bidders down the road. silicon valley potential bidders. in order to get this deal done, more candy going his way and more cash with higher price. that's what you se

the move is seen as time warner's first concrete step to sending off the unwanted takeover offer.ing live pictures from brussels where european foreign ministers are arriving for a summit. this is the arrivals area. you can see the international media gathered there. the eu foreign-policy chief has already spoken. she has talked about how there are -- [inaudible] broncoying they expect a -- a strong debate on possible new sanctions. the eu had been determined in its conversations about putin. we will bring you more as it develops. spread betting firm just releasing its results. joining me is the chief executive. 1.3%. profit up by profitding revenue up. is rising every year. how have you managed it this year? strong growth on from our european businesses. we have been in continental europe for six or seven years. we're still growing strongly. >> do you think that sort of growth is sustainable in those countries, and those geographies? >> i do. if you compare those businesses to our u.k. business and they are a fraction of the size. we see no reason we cannot build a business on a

time warner rejected the initial bid of more than $up 5 billion. murdoch has said to be willing to pay more in order to get the owner, all that stuff. the deal was first brought to the attention of time warner chairman and c.e.o. by murdoch deputy over lunch in new york last month. but people familiar with the matter say he was concerned about a number of factors, including the plans, fox's share structure, and the future of cnn. for more, emily change spoke with jeff and neil, the managing director at general catalyst partners. kneel was previously at time warner investments, where he worked with various groups, and emily started by asking what he thinks of the proposed deal. >> i think this deal makes a lot of sense for fox, and what i think jeff has done over the last 10 years is shed poor assets and increase shareholder value for time warner. i think for fox, it makes sense, because they're buying a crown jewel asset. for time warner, i can see why they think they created a lot of values, so they're pushing back on closing the deal at this pofpblete >> jeff, you've been reporting on this from the very beginning. you know how this started to come t

time warner. >> he thinks it is better for the company to remain independent. he has been selling off. when he firstook over, he sold off or spun off aol, as well as time warner cable, and then time inc., the magazine publisher. in a way, it is almost as if he set the company up to be traded. it is a much more focused company in terms of being a pure play entertainment business, which would fit nicely in with fox. leaner, meaner time warner still includes cnn, turner broadcasting, and then the big one, hbo. would be a stretch to say it is all about hbo, but it is all about hbo. people have speculated that maybe this was as much or more. at the very least, fox and their advisers believe hbo is worth at least $20 billion and probably more, and there is a lot of potential to build the hbo business overseas, as well as on the digital platform and on mobile platforms. it is not like hbo does not exist there, but it could be bigger, especially overseas. and there is an opportunity for the fox programming on hbo. cnn, which there is competes with fox news in the cable television news business. the word fro

another bid could be coming while murdoch's first move for time warner has been rejected, he's not knownfor backing down. all the details after the break. >>> welcome to "worldwide exchange." i'm julia chatterley. the u.s. and eu extend sanctions on russia. among a number of key firms targeted are gazprom. >>> president putin says it will not tolerate blackmail and has warned of retaliation. >>> reports suggest volkswagen could be considering a bid for some parts of fiat's business. fiat is remaining tight lipped, but shares jumped. >>> time warner investors want more money from murdoch. the firm saw a unsolicited bid from fox as being too low. the stocks move ever higher on hopes of a better offer. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> if you're just tuning in, thanks for joining us here on the show. a look at how the futures are faring ahead of the u.s. market. yesterday we saw the dow gaining around 0.4%. yesterday, a similar story. right now, seeing a bit of take back in some of those gains in yesterday's trading ses

first time in person today. the incumbent democrat senator mark warner and republican challenger ed gillespie participatedded in a debate at the greenbrier hotel resort in west virginia. warner says the challenger will contribute to congressional gridlock. for his part, gillespie accused the incumbent of being a blank check for the obama administration. >> he views every issue through the lens of republicans versus democrats. he even went on tv and called himself a partisan warrior. his words, not mine. last thing washington needs is another partisan warrior. >> i appreciate senator warner's service to our commonwealth, but unfortunately he has tightened the squeeze on hard-working virginians and made it harder for the unemployed to find work. in voting with president obama 97% of the time, he's not been the senator he said he would be. >> the debate was moderated by public broadcasting journalist judy woodruff and hosted by the virginia bar association. gillespie is a former republican national committee chairman. several recent polls have put senator warner way ahead in this race. >>> coming up, tomorrow is a

the story of the morning, time warner rejecting an unsolicited $80 billion offer from 21st century fox, who reported this firstis, mo. they had been in talks. time warner rejecting that offer and fox just coming out with a statement literally as we're going on the air during the commercial break saying 21st century can confirm we made a former proposal to combine the two companies, the time warner board of directors declined to pursue our proposal wind chill renot currently in any discussions with time warner. having saying all that, we will bring vanity fair into the conversation. they say they were not in discussions with time warner now but does simply the disclosure they were in talks put all of this back on the front burner? sarah? >> reporter: absolutely. this is the kind of thing that murdock does, people say, no, then eventually a lot of the time they come around. i think this is just the very beginning of a really deal time that we're headed into. this is history. >> you know jeff bukus as well as rupert very well. you wrote the book on rupert. he seen his play b.c. before with the "wall street journa

what is so amazing to me, it seems not that long ago to me in the 1980s when we first heard of the merger between time and warnerommunications, and that seemed like how in the world could these two enormous--this would be like the soviet union and the united states deciding to be one country. that seems like such outrageous consolidation. now we're looking at time warner as just part of the equation. what we're really starting to see here and have for the past 25 to 30 years is the emergence of these superpowers cultural superpowers who control an enormous amount of how we see ourselves. >> is there danger in that? is there danger--i mean, look, if you talk to me about cable companies getting too big, i will tell you how they might squeeze you for your millions rates and things like that. what is the danger in content superpowers? >> i'm very old school about this. i believe the idea that more voices are better, and that the more people you have saying things the more owners the better off it is. each one dilutes the other if there is a big mistake. if you really wanted to get paranoid you wouldn't have to think

the time warner board has taken the first concrete step to fend off rupert murdoch's unsolicited takeoverthey have amended corporate bylaws. a filing with the ex -- securities and exchange commission they said it was effective immediately. this gives shareholders and 20th century fox fewer avenues to press the company to a potential deal with fox which recently made an unsolicited $80 billion offer to combine the companies. even if the board were to approve an offer, it would need to get the greenlight from federal regulators. for the past antitrust test? megan hughes looking into that very issue. what would be the red flag were regulators? >> a lot of talk in washington. channel holders would be a primary focus. this would get 21st century fox a lot of control over what people watch. so take a look at the top 10 cable networks according to recent eels and ratings. if the deal goes through, fox would owns four of them. so for advertisers, a large advertising platform under the sum of one company. then you throw in network that do not have the leading premium channel and its hits like game

rupert murdoch wants time warner and he's selling off assets to get it friday twenty first century fox said that it was selling its italian and german paid television assets to british sky broadcasting better known as b. sky b. which is by the way thirty nine percent owned by fox for more than nine billion dollars now this is.

time warner. ♪ >> you are watching "bloomberg west" where we focus on technology and the future of business. time warner projecting a takeover did from rupert murdoch's tony firsttury foxx. the umpire -- from rupert murdoch's 21st century fox. so, what is the current reputation inside and outside of the company and in the broader media business? from l.a. with more. this is not about vanity or winning, this is about strategy. what is it? >> thinking. being a visionary. you profiled a lot of entrepreneurs, a lot of people who are thinking about the future and trying to run their businesses in a similar fashion. rupert murdoch has been doing this for decades. and it comes to being entrepreneurial, there are different facets of it. whether it is willing to move quickly on a deal, whether it is willing to try a new business and push aggressively like when broadcast in fox the first place or when it comes to putting people in the incisions of power. a lot of people who work for rupert murdoch over the years have talked about a big company where there is a bit of a startup field because of his interest in moving quickly. in this particular case, while we talk about r

twitter tomorrow, yelp, tesla, gopro, the first public report on thursday. sony, time warner cable, t-mobile later in the week. you name it, media, tech, and then some other industries, too, jon. insurance. >> twitter, twitter, twitter. >> is that it? >> that really is. >> it's like ohio, ohio, ohio? >> everyone's going to look at that user number. i'm looking at the goadman number. they say 264 million monthly active users. that's one number everybody's looking at. remember, they crushed it on revenue last time. nobody really cared. the big wild card here, anthony nodo, goldman sachs banker extraordinaire who joined them as cfo. if he is on that call, no one is better at explaining a company to hedge funds and wall street. and i think that could really help them quite a bit. for metrics, other things they should be thinking about, that way on the call the stock could really move up, i think. >> well, the company does have a lot of explaining to do. so having someone like that to massage the message to investors i think would be helpful. but remember, this is a company that j

time warner rebuffed the offer, stock is up and rupert murdoch may come back at another bite. and no one ever knows if the first offer is the best offer. >> what did rupert murdoch see in time warner that he wants so badly. >> what did he see in my space, the wall street journal for more money than anybody thought that wall street journal would ever be worth? time warner is not a toy. time warner cable is no longer part of time warner. time music is gone. time inc. has been shed from the company. it's got its name. it doesn't have aol any more. it still holds hbo and tnt, warner brothers movie, but you know, this is a big prize for fox if rupert murdoch were to get this, he would have more negotiating power with the cable distributers saying pay us more for the content. that would an content powerhouse so much that regulators may have some issue with it. >> what else do you have coming up tonight? >> we have a packed show. we have southwest airline ceo to talk about what the future holds for the airline industry and the fees and fares that we all pay to fly. that will be an interesting discussion. >> it sure is

. >> warner: yesterday, for the first time since the april 14 abductions, nigerian president goodluckathan met with many parents of the kidnapped girls, and some who escaped. he and his government have come under withering criticism for their handling of the incident, and of boko haram. >> the government was wildly slow to respond to this particular abduction, and the government's security forces have been wildly ineffective at both dealing with boko haram and protecting the local population. >> warner: sarah margon is the washington director of human rights watch. >> warner: why is it that the nigerian government, after 100 days, with some outside help, has not been able to locate and rescue these missing girls? >> it's our understanding that they actually do know where they are, but because the girls have been broken up into smaller groups, and it's basically a hostage negotiation, it's a very dangerous situation. >> warner: this morning by phone, i asked nigerian government spokesman in abuja, mike omeri, about that. >> the effort, the energy, the resources, the mobilizing and stan

time warner? estimate the first thing on every media guys mind. >> 100%. we were talking about snow piercer, which is this film it will look at vod and traditional the edge of the leads. they're doing the same thing with the new film venture. he is obviously thinking about how film is changing. we are thinking about how the media landscape is changing because of this box deal. -- fox deal. foxas a relationship with that was sold to disney and became abc family. disney buying a lot of stuff, and in the case of time warner, trimming down over the last couple of years. surprised, because trimmedthat jeff has the company to the point where he is unprepared for the takeover. >> does not necessarily a bad thing. but we have seen some media companies clearly hesitant to make the wrong move. you think at aol and time warner, maybe that was always in the back of time warner's mind when they didn't want to be more aggressive with making deals. now we had to figure out what is the right strategy. make aight to go out and bold move, or sit on the assets you haven't fr

time warner. he is offering way under what would exceptaid it stop time warner says it has a superior proposal in its own growth plan to anything for the first is in a position to offer. near enough to get you to time warner. have a look at sky's price in london. a big shareholder in b-sky-b, 21st century sox. they cannot vote on this deal. .k., which b-sky-b u is saturated. we all love pay-tv systems. can he convince the minority shareholders that this is a cracking deal that truly he is going to turn things around in germany and italy? where people simply do not pay at the same scale or the same price for pay tv. meani say do not pay, i way under the penetration rates you see here in the u.k. idea what it takes to market to a german or italian to convince them to part with their euros for exclusive access. >> there are lots of very small, regional cable companies in germany. it is a different market from the u.k., where you have a series of large operators. in germany, it is a fragmented market. has said thatland they will review the offer. nothing is a done deal. looking back through my notes, utschland, b-sky-b is offering 6.7 5 million

time warner rejected the first offering of $80 billion. the "wall street journal" says, all big media companies are trying to find the magic formula that will inoculate them from the pressures that could come, for example from customers cutting their paid tv connections in greater numbers, and they are trying to position themselves to exploit rather than be buffeted by the growing viewership of content on line and on mobile devices. then the front page of "usa today" on this story says a done deal, $80 billion offer is likely just the first act. if fox and time warner were to come together, and that's if regulators approve it, no sure thing, the combined mega entertainment would own two huge hollywood movie studios, 28 local news stations, as well as popular cable channels, hbo, tnt and tbs. that in "usa today." let's get in one last phone call here. independent caller, jack, what is your confidence level in the president's foreign policy? caller: i have to agree with the caller from ohio that said obama is analytical, and he is methodical

. >> time warner has rejected an initial takeover bid by rupert murdoch' first century fox or a reported $80 billion. the merger of the two entertainment and news companies could have created a media giant with a total revenue of $65 billion a year controlling a number of tv networks, channels, two movie studios, and much of the countries sports broadcasting. 21st century fox confirmed the bit in a statement, saying it would have told off time warner 's cnn, a direct competitor to its own fox news channel, to help allay regulator concerns. here is what one industry analyst had to say about it. >> seems to be a lowball offer, even though the premium that was suggested was over 20%. a company like time warner is kind of a once-in-a-lifetime opportunity. these kinds of deals rarely come around. >> that brings us to a look at the market. time warner shares jumped 16% on the news. wall street is trading in the green. the dow once again passing into uncharted territory, above the 17,000 mark. tech firms are leading the way with strong results from the likes of apple and intel. the major indice

we broke the story here first on "squawk box." time warner has rebuffed its $80 billion takeover bid. there are no talks under way, but murdoch is unlikely to walk away anytime soon. i don't know if you saw it, jeff put out a video prompt to the proposal. so, you know, they actually videotaped jeff yesterday, i believe at time warner center saying we don't want to do this, we've decided against it. but most importantly, he said we believe our empty growth plan is better than anything that fox would ever basically be in a position to offer. >> there's not enough money in the world for you to buy us. there's the makeup girl and then there's the guy going, take three, jeff. and time warner, but it's a media company. so it's like they -- >> so the response that they actually gave to fox was a couple of tersly written -- >> ride. >> but the shareholders -- actually, i believe the video was made for internal purposes. >> that makes sense. if it's for employees, you get that. now they're going to run it on cnn as a reality show. that would be good,

. >> first, rupert murdoch has his eyes on time warner. the company turned down a reported $80 billion deal. that's not stopping his drive to shape the media landscape. >> he built his global media empire starting with a single australian newspaper he inherited from his father 60 years ago. now at 83, rupert murdoch's companies have an estimated stock value of more than $80 billion, and he owns nearly 40%, according to foreign magazine. along the way, he gained a reputation for being ruthless and polarizing. he was asked last year to stir things up. >> i think it's great to be, if you are sure what you are doing, to be an agent of change. murdoch recently spurred his country in two parts. the u.k.'s times and sunday times and new york post and wall street journal in the automatic, his other company is 21s 21st century fox, the movie studio, along with fox television. >> american idol helped fuel the channel's success, along with a show that helped put fox on the map in the 1990's. ♪ the simpsons >> there's fox sports and the fox news chann

time warner rejected the bid and no new talks are scheduled. he wants to add hbo and warner brothers to his holdings. he would sell cnn if he gets it. this is the firsted to reduce staff. employees were given a heads up from the ceo warning that big organizational changes are coming. >> that certainly would be a big change. meanwhile, congress is on the verge of passing a new bill to upgrade your sunscreen. the measure is designed to bypass a backlog for more ingredients to be used in the u.s. many products are being used in other countries. 2 million americans are diagnosed with skin cancer every year. >> i spend a third of my life in the sun, smearing sunscreen on my boys. it's a major part of my existence. >> i wear white sunscreen, i look like a geisha when i have it on. >> i have come to grips you have to wear tons of it all the time. >> man oh man, is it a pain. thanks for watching. "new day" starts right now. >>> breaking news. broken truce. rockets fired in israel from gaza ending what was supposed to be a five-hour cease-fire early. this, as palestinians mourn the loss of four children killed by an israeli strike while playing on a beach. we

first time. but his critics say the election was a sham. >> good morning, catherine, cake provider comcast rivalled by time warner cable back in february and in may, directv. media giant 21st century fox was looking for a change, but they've been rebuffed in an $80 billion bid to buy its rival, time warner. time warner owns tv stiegss including c nerks n. officials from both companies say they're not discussing the matter at the moment. investors turned, again, to buying stocks on wall street. strong business results helped lift sentiment. year.theh timehis a averagenoth let's get a full update from ramin melagard. good morning, ramin. what's happening over there today? >> good morning, yi. supported for japanese exporters today. we shall see. but let's have a look at opening levels for the nikkei and the broader topix for july 17th. and the nikkei and topix both in the positive right now. 1,277.74 for the topix. yi, of course, time warner rejected fox's $80 billion takeover offer. and shares surged on wednesday by just over 17%. so a lot of activity there in the share price action. quarterly earnings releases are in full swing in the u.s.