This morning, Andrew Ross Sorkin reported Time-Warner rebuffed a $US85/share buyout offer from Fox. The total valuation would be $US80 billion.
Moments ago, Sorkin said what number Time-Warner would actually be looking for: $US100/share.
That would put the valuation of any potential deal at $US94 billion.
Time-Warner shares were trading up about 18% to $US83.76