Rupert Murdoch looks to have been canny in his $80 billion takeover approach to Time Warner Inc, cornering the media giant at a time when potential “white knight” bidders are busy absorbing their own large deals. The absence of potential counter-bidders leaves Time Warner’s investors with a dilemma. They can either engage with Murdoch’s Twenty-First Century Fox Inc to negotiate a higher price, or play for time and wait until there are more potential buyers available.