CCTV Script 05/08/14

— This is the script of CNBC's news report for China's CCTV on August 5, Tuesday.

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

In media earnings - Time Warner and Fox will be in focus this week.

Investors will be keeping a close ear on what the results mean for a potential deal.

Julia Boorstin has more.

Time Warner and Fox's results and earnings calls on Wednesday are a crucial opportunity for both companies to make their case to investors. Fox are buying Time Warner, Time Warner for staying independent.

Since Fox's stock is in currency for its propsed accquisition - 60% of its offer- investors and analysts want to hear Rupert Murdoch's plan to grow the stock's value, with a focus on Fox's buy-back plan, the company's debt, the health of its advertising busniess and its succession plans for Murdoch.

Meanwhile investors are looking for Time Warner's CEO, Jeff Bewkes, to talk about his plans to set up the media giant on its own for rapid growth, as well as for insight into potential plans to offer HBO's stand-alone service overseas, which could be a huge new revenue stream.

And for clues on whether Bewkes is open to a deal and on what terms.

The other media giants reporting this week are also sure to face question about the impact of media mega merges and where they fit in. Disney is up tomorrow afternoon, Vicom on Wednesday and CBS on Thursday. Back over to you.

That wraps up this edition of the Business Daily.

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

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