Time-Warner (TWX) CEO Open To a Sale - NYP

(Updated - January 12, 2016 2:17 PM EST)

Time-Warner (NYSE: TWX) CEO Jeff Bewkes told investors in a closed-door meeting Monday that he is against spinning-off HBO but would entertain a sale of the company, the New York Post reported Tuesday afternoon.

Bewkes said a split, which some activist investors have been seeking, would destroy shareholder value.

On Friday, StreetInsider.com first reported that Rupert Murdoch's Twenty-First Century Fox (NASDAQ: FOXA) may try to make another run at the company. Twenty-First Century Fox denied a separate media report that it had made an offer, although that doesn't rule out a future bid.

In the summer of 2014, Twenty-First Century Fox launched a $80 billion, or $85 per share, offer for Time Warner. Time Warner rejected the offer saying it was not in the best interests of shareholders.

Other rumors put Carl Icahn in the mix, although he told CNBC he has not bought a single share. Keith Meister's Corvex Management is said to be the other activist involved. Interestingly, Meister once worked for Icahn.

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