Time Warner's Rupert Murdoch Defense Could Mirror Sale of Time Warner Cable

Updated from 9:35 a.m. ET to include additional Time Warner and analyst commentary information throughout.

NEW YORK (TheStreet) -- Time Warner (TWX), faced with what may be an aggressive bidder in Rupert Murdoch's Twenty-First Century Fox (FOXA), could look at how its former cable operation Time Warner Cable (TWC) fended off unfriendly suitors. As Time Warner Cable fought an increasingly tough bidder in Charter Communications (CHTR), the company's CEO Rob Marcus reached out to Comcast (CMCSA) and was able to drum up a friendly offer.

Comcast's Brian Roberts bid roughly $45 billion for Time Warner Cable, in one of the largest all-stock cable deals in a decade. For Time Warner Cable CEO Marcus, the merger was a tremendous coup after many on Wall Street had assumed Charter Communications, backed by cable mogul John Malone, would be too hard to handle.


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Perhaps, Time Warner CEO Jeffrey Bewkes is looking at Time Warner Cable's successful defense against Charter as a template for how he might deal with Rupert Murdoch and Twenty-First Century Fox. The New York-based company confirmed that it rejected Twenty-First Century Fox's offer of $32.42 a share in cash and 1.531 Twenty-First Century Fox Class A non-voting common shares on July 8. 

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