Time Warner CEO says only AT&T approached with offer

REUTERS - Time Warner Inc Chief Executive Jeff Bewkes said on Monday that AT&T Inc was the only company to make a takeover approach for the media group. AT&T said on Saturday it had agreed to buy Time Warner for $85.4 billion, or $107.50 per share, to gain control of cable TV channels HBO and CNN, film studio Warner Bros, and other coveted media assets. "Nobody else approached the company for a deal," Bewkes said in an interview on CNBC. Several media outlets had reported that Apple Inc had also been interested in acquiring Time Warner. Time Warner's shares were down 1.4 percent at $88.19 before the opening bell on Monday. AT&T's shares were down 2.3 percent at $36.62. (Reporting by Supantha Mukherjee and Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)