Twenty-First Century Fox Reportedly Ready To Give Time Warner Board Seats

(RTTNews) - Rupert Murdoch's Twenty-First Century Fox, Inc. (FOX, FOXA) is prepared to give shareholders of Time Warner Inc. (TWX) seats on the board of the combined entity, if its $75 billion takeover bid succeeds, Bloomberg reported, citing people familiar with the situation.

While it is not known how many seats were under consideration, it was said that a revised proposal could include the Board representation.

Last week, Time Warner said it rejected a takeover bid from 21st Century Fox as it was not in the best interests of the company or its stockholders.

21st Century Fox offered to acquire all of its outstanding shares for a combination of 1.531 of 21st Century Fox Class A non-voting common shares and $32.42 in cash per share.

New York-based Time Warner added, it was confident that the execution of its strategic plan would create significant value for the company as well as its stockholders and is superior to any proposal that Twenty-First Century Fox was able to offer.

Meanwhile, 21st Century Century Fox said Friday it would transfer Sky Italia and its 57.4 percent stake in Sky Deutschland AG (SKDTF.PK, SKDTY.PK) to British Sky Broadcasting Group Plc or BSkyB (BSY.L, BSYBY.PK) to create a pan-European digital television leader through the combination of these assets.