NEW YORK (TheStreet) -- Shares of Time Warner (TWX) are surging, up 19.26% to $84.69, in pre-market trade after it was reported that Rupert Murdoch's 21st Century Fox (FOXA), made an $80 billion takeover bid in recent weeks for the media and entertainment company but was turned down, sources told the New York Times.
Murdoch's approach could put Time Warner in play and might again ignite a reshaping of the media industry, prompting a new spate of mega-mergers among the nation's largest entertainment companies, the Times added.
TheStreet Ratings team rates TIME WARNER INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: