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November 27, 2014

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In this June 18, 2014, photo, Jeff Bewkes, chairman and CEO of Time Warner, attends the 2014 Cannes Lions 61st International Advertising Festival in Cannes, France. Time Warner on Wednesday, July 16, 2014, said that it has rejected a takeover bid worth about $76 billion from Rupert Murdoch's 21st Century Fox and said it has no interest in further discussions about a combination of two of the world's largest media and entertainment companies.

Lionel Cironneau / AP

In this June 18, 2014, photo, Jeff Bewkes, chairman and CEO of Time Warner, attends the 2014 Cannes Lions 61st International Advertising Festival in Cannes, France. Time Warner on Wednesday, July 16, 2014, said that it has rejected a takeover bid worth about $76 billion from Rupert Murdoch's 21st Century Fox and said it has no interest in further discussions about a combination of two of the world's largest media and entertainment companies.