21st Century Fox Sweetens Time Warner Deal With Board Seats

In its latest move to tempt Time Warner to reconsider its buyout offer, 21st Century Fox will reportedly allow Time Warner shareholders a spot on the board. Earlier in the month, the Rupert Murdoch-run company made an approximate $80 billion cash-and-stock offer to buy Time Warner. However, the non-voting shares offered would have given Time Warner stockholders little control over a combined company even though they would have had significant holdings. As well as board representation in a second-round offer, WSJ sources note Fox could increase its bid to $95 a share from its previous $85 a share. TheStreet's Keris Lahiff reports from New York.