Inside the Mind of Rupert Murdoch

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Aug. 6 (Bloomberg) -- Michael Wolff, author of "The Man Who Owns the News," discusses Rupert Murdoch withdrawing his $75 billion takeover offer for Time Warner and gives us a glimpse of what he's like behind the scenes. He speaks with Pimm Fox on "Taking Stock." (Source: Bloomberg)

Johnson and jeff mccracken.

For more details on rupert insight -- rupert murdoch, i am joined by a journalist who spent nine months interviewing associates and family for "the man who owns the news." let me get your action to what has been going on with 21st century fox and time warner.

Rupert has put time warner and play and time warner will remain in play.

Rupert wants time warner.

He will try to figure out how to get it.

He will figure out how to get it and not pay more money.

He obviously -- time warner wants as much money as they can get.

Rupert wants to pay as little as he can pay.

Between the ask and the bid there is -- that is where we sit right now.

You spent nine months interviewing rupert murdoch my meeting with associates and family members.

I was with him through a lot of the period in which he did the dow jones deal.

I have seen rupert do a deal.

And rupert takes his time.

He proceeds on his own pace and of course he gets the deal done.

Give us some insight into what a typical day is in a situation like us.

-- like this.

He comes into the office and he gets on the phone and what he does on the phone, what he does for most of the day is get information.

Gossip, information, he pulls it in, he dissects it, he looks for weakness.

Where is the weak spot, and that is what he is doing was time warner.

It is what he is doing right now.

It is what he is doing right now.

What about other members of his family?

He has two interests in his life, his company and his family.

Nothing else exists.

It is likely that he is on the phone with one of his children now, likely with one of his sons . he is not speaking -- if he is not speaking to his daughter at the moment and 30 minutes from now, they talk all the time.

Will they be adding anything to the deal or does he send them out to say i want a specific kind of information?

They add a lot, they'll let him and tell him he is wrong.

They had to him and they treat him like my children treat me perhaps -- and perhaps like your children treat you.

What makes rupert murdoch take?

-- tick?

His family and his company.

His family is like anyone's family trying to get away from him, trying to do things without him, trying to be independent, so -- what is the situation with his daughter?

They hit hard, hit many hard times in the past, as all of his children have with him.

During the hacking crisis in 2011. the world news.

News of the world and the sun in london.

Things were difficult in their relationship.

She blamed her brother, she blamed her father for trusting her brother.

And then on top of that, rupert does not like her husband.

You are a journalist and author.

You see how companies and people work.

Is this a model for how companies can be run or is this a unique situation?

Totoall -- totally sui gene ris.

The murdoch family is rather like the kennedy family.

Insular, they basically do not think that anyone else has had their experience or will have their experience.

They are an island.

They run this company as their company.

And to the extent that they run it as their company, it is their country.

Their country is news corp.

And fox and you are either part of it or you are outside of it and therefore a potential enemy.

What is his sense of the concept of loyalty?

It is -- he can be fiercely loyal and he can turn on you on a dime.

The people around him tend to be very loyal to him, exceptionally loyal to him, and then one day they wake up and he is -- has no use for their loyalty anymore.

Does he go over past decisions or is this someone who looks to the future all the time?

He looks to the future all the time.

He is a past decision -- it is not much care about that but he will endlessly debate yesterday's decision, the day before past decision.

He is -- this is a man who lives in the moment.

If you talk to him and as a biographer, it was always a problem for me to say, what did you do in such and such a deal and he would blank on that.

He would like on the decade and the deal.

-- blank on the decade in the deal.

You could literally step into the drama with him today.

Cnn, part of time warner, based on your knowledge and experience, what is his current thinking about cnn?

In an ideal world he would love to what -- own cnn.

He acknowledged in the deal when

This text has been automatically generated. It may not be 100% accurate.

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