Fox not giving up on Time Warner deal

Source: 21st Century Fox

Time Warner may have spurned 21st Century Fox's $80 billion acquisition advances last week, but some people just won't take "no" for an answer.

Sources close to the matter said that Fox is planning on selling off its Italian and German pay-TV assets to bolster its offer for Time Warner and hopefully reach a deal, Bloomberg reports.

Read MoreHow Time Warner may wind up in Murdoch's clutches

Fox is considering selling its Sky Italia and Sky Deutschland assets to British Sky Broadcasting Group in an offer that could generate 10 billion euros ($13.5 billion) worth of revenue, sources told Bloomberg.

Fox owns a 39 percent share of British Sky Broadcasting Group.

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