From KCRW and KCRW.com, I'm Kim Masters, and this is the business.

Everyone thought, wow, that's going to be cool.

But it's like, ah, we're not a bank. How do we justify that on our books?

The idea behind Richard Linklater's latest movie, Boyhood, is brilliant but risky. Follow a child over the years as he grows into young manhood.

Linklater tells us how he convinced a cast, a crew, and a single investor to sign on for this daring 12-year endeavor.

And later on the show, Linklater gives us an update on Bernie Tida, the convicted murderer who inspired his film, Bernie, who is living above Linklater's garage.

But first on the news banter, Time Warner spurns an offer from Rupert Murdoch's media empire for now, and Microsoft gives up on original programming.

Stay tuned, it's the business from KCRW.

I'm joined by my fellow banterer, Michael Schneider, of TV Guide magazine.

Hello, Michael.

Hello, Kim.

So, gigantic news in the media world, Rupert Murdoch jumps up with an offer for not some little something, something, but Time Warner.

Yeah, to the tune of $80 billion. Time Warner rebuffed that initial offer. But what Rupert wants, he usually gets.

And eventually, as we saw with the Wall Street Journal, what we've seen with several properties

through the years, if at first he doesn't succeed, he keeps on going until he does.

Yeah, in fact that while Time Warner is now considered to be definitely in play and very

possibly to be acquired eventually by Fox and their stock is up, the Fox stock went down a bit

because of an investor's nervous that Rupert is so determined to get what he wants that he will overpay, as he may have done, for example, with the Wall Street Journal.

Yeah, and there's talk of Time Warner being ultimately bought for as much as $105 billion. But this is an interesting company, Jeff Bucas, ever since he started running Time Warner.

It turns out really has been prepping this company for a sale, stripping assets like AOL, like Time Warner Cable.

And of course, most recently Time Inc. getting rid of those pesky newspapers and magazines.

Those legacy properties.

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