On July 16, Jeffrey Bewkes, the chief executive officer of Time Warner, took to the Internet to fend off the advances of Rupert Murdoch and 21st Century Fox. In a short video directed at his employees, Bewkes insisted that Time Warner wasn’t for sale and that it would be better off on its own. Wearing a gray suit and dark tie, his hair more tousled than usual, he spoke earnestly, concluding with an irreverent smirk that suggested everything was under control. It was a solid performance, but it didn’t have the desired effect. Time Warner’s share price leapt 17 percent that day, as investors salivated and rumors circulated that Murdoch would up his bid.