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Deals Rumor Mill: CNN, Zillow, IBM

By Chelsea Naso (July 25, 2014, 7:54 PM EDT) -- If 21st Century Fox locks down a deal with Time Warner Inc., it would likely sell CNN and pay billions of dollars in taxes rather than go through the process of spinning the cable news channel off to shareholders of the merged company, sources told Reuters on Friday. Fox would sell the news network as it already operates one of its own and would likely face opposition from regulators if it wanted to keep it. Potential buyers could include CBS Corp. and Walt Disney's ABC, the report said. A sale would mean a tax hit of about 40 percent of proceeds, which could range from $6 billion to $10 billion....

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