Time Warner: Take The Money And Run... Soon
Summary Twenty-First Century Fox's pursuit of Time Warner probably isn't over. Valuations in the group are becoming stretched. Time Warner solidly beat Q2 '14 earnings estimates, increasing the value of the company to a bidder. A few weeks ago, the revelation that Twenty-First Century Fox (NASDAQ: FOXA ) (NASDAQ: FOX ) offered to purchase Time Warner (NYSE: TWX ) sent the latter's stock surging roughly 17% for the day. The stock sat around the offer price of $85 for a few weeks providing the opportunity to sell it at a solid price before the 12% drop today. The offer for the content giant is another step in the cable wars though it may not materialize into a merger now. The initial moves to consolidate the cable networks in the case of Comcast (NASDAQ: CMCSA ) (NASDAQ: CMCSK ) buying Time Warner Cable (NYSE: TWC ) is leading the content providers to look into ways of bulking up. Read the full article at Seeking Alpha....