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Big hedge fund wants Time Warner to sell to Fox

July 16, 2014: 1:37 PM ET
Ken Griffin Citadel

Ken Griffin is founder and CEO of hedge fund Citadel.

Get the deal done.

That was the message from hedge fund titan Ken Griffin Wednesday after hearing that 21st Century Fox (FOX) made an $80 billion bid for rival Time Warner (TWX).

"The deal makes a lot of sense," he said. "Let's get them to say yes."

Griffin has skin in the game on this one. Citadel, the multi-billion dollar investment firm that he runs, owns stakes in both companies.

Speaking at the CNBC Institutional Investor Delivering Alpha conference in New York, Griffin extolled the idea of a merger with the two media conglomerates on the basis that they would benefit by bringing great content under one roof.

Related: Murdoch's Fox made bid for Time Warner in June

Time Warner, the parent company of CNN and CNNMoney, rejected the bid, but Griffin thinks the fight is far from over.

Many analysts believe Rupert Murdoch will continue to aggressively push for the acquisition. So does Griffin. He believes that Time Warner makes sense as an addition to Murdoch's increasingly global media portfolio.

If Murdoch ups his offer, Griffin thinks it's "going to get tough" for Time Warner's board to say no again.

But Griffin said Time Warner shareholders will have the final word. That's because Time Warner doesn't have a controlling investor like Fox does with the Murdoch family.

"It will come down to every single shareholder vote," he said.

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Jesse Solomon
Jesse Solomon
Reporter, CNNMoney

Jesse Solomon is a reporter for CNNMoney’s markets and investing section. He covers stocks, bonds, currencies, alternative investments, emerging markets and mergers and acquisitions. He previously worked as an Associate Producer for CNN, where he covered the Boston Marathon bombing, Superstorm Sandy and other big, breaking news events.

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