Time Warner is girding to fight Murdoch's takeover offer

Time Warner Chairman and Chief Executive Jeff Bewkes is in an uncomfortable position: The cross hairs of Rupert Murdoch. With Murdoch and his 21st Century Fox team are banging on the door, top TW management is "very resolved" to fend off Murdoch's advances.

Analysts are not so certain that's the case. Wall Street clearly expects Fox to sweeten its offer. Murdoch might even be willing to go as high as $100 a share, according to Wells Fargo Securities senior analyst Marci Ryvicker. That would place the deal's value at $91 billion.

The key question, according to veteran media analyst Michael Nathanson, is: "At what price is 21st Century Fox willing to walk away?"