WASHINGTON, July 26 Rupert Murdoch's 21st
Century Fox is open to giving Time Warner Inc
shareholders seats on the new company's board if its takeover
bid succeeds, Bloomberg reported on Saturday, citing people
familiar with the situation.
Board representation could appear in a revised proposal,
Bloomberg cited one of the people as saying. It did not say how
many board seats were being considered and added the two sides
are not currently in negotiations.
Time Warner's board rejected Murdoch's $80 billion takeover
offer earlier this month, but the Fox chairman and chief
executive officer is expected to continue the pursuit.
Bloomberg said the offer of board seats as part of an
increased bid could help allay concerns of Time Warner investors
about the dual-class stock structure that gives control to
Murdoch, 83, and his family.
Nathaniel Brown, a spokesman for New York-based Fox, and
Keith Cocozza, a spokesman for Time Warner, declined to comment
on whether the companies have discussed board seats, Bloomberg
Mario Gabelli, one of Time Warner's longest standing
shareholders, said in an interview with Bloomberg last week that
Murdoch should offer Time Warner investors a couple of board
In a deal announced Friday, Britain's BSkyB agreed
to pay $9 billion to buy Murdoch's pay-TV companies in Germany
and Italy. Fox is expected to use the proceeds to fuel its
pursuit of Time Warner.
(Writing by Frances Kerry; Editing by Toby Chopra)