Seven things to know Thursday morning

Anonymous quotes explain Time Warner-21st Century Fox gulf, Microsoft expected to announce layoffs today; Civil rights groups demand Twitter released diversity data.

Time Warner and 21st Century Fox are miles apart on Rupert Murdoch’s reported $80 billion takeover bid for his rival media empire, according to various reports. These two anonymous quotes, presumably from different sides of the spurned deal, in a Wednesday night Reuters article sum up why.

One source said a combination would be "a chance to put some great programming and content assets under one umbrella," adding, "There are other alternatives, but none of them fit anywhere near as well as this does."

Said another source: "To do a merger of this scale and size where Time Warner shareholders have no insight into the destiny of the company is very troubling."

The deal would put two of the major Hollywood studios under the same ownership. However, Murdoch would likely have to spin off Time Warner’s CNN if a combination were to take place, according to the Atlanta Journal-Constitution. Music holdings would also not be a major component of a takeover.

Time Warner CEO Jeff Bewkes recorded a video for employees on Wednesday to explain that his company’s business plan creates more value than a 21st Century Fox takeover.

Six other things to know Thursday morning:

This story was updated on Thursday morning with more information about the Microsoft layoffs.

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