CCTV Script 17/07/14

— This is the script of CNBC's news report for China's CCTV on July 17, Thursday.

Welcome to the CNBC Business Daily, I'm Qian Chen.

Time Warner shares skyrocketed overnight… closing 17% higher in yesterday's trade after the media giant spurned a $80 bn offer from Rupert Murdoch's 20th century Fox.

Here's what the media landscape in the U.S. looks like.. with some of the following giants leading the industry.

So what exactly would this mega media merger entail?

Here's what some of our analysts have say.

[John Paulson / President & Portfolio Manager, Paulson & Co.] "From a shareholder perspective it looks like it could continue but it's not all that exciting. It's not like a hillshire where the ultimate bidding could be 40% higher, 80% above the transaction price. Here you have an evenly matched acquiring target, limited flexibility how high the acquirer can go and a very recalcitrant board in time warner and they don't want to sell and a difficulty in fox in ultimately making a hostile offer for time warner shareholders. From a shareholder perspective, It could work out but it's not that exciting."

[Jeffrey Bewkes / Time Warner, CEO] "The board concluded the continuing to execute of our strategic plan of our business plans will create significant more value for the company and share holders, and that's superior to any proposal for Fox in a position to offer"

[Ken Griffin keynote / Founder and CEO Citadel] "I think this is a great deal. time warner, great assets. warner studios, content is king. both of those assets have great content. the deal makes a lot of sense for fox and it makes a lot of sense for time warner shareholders"

That wraps up this edition of the Business Daily.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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