The plot thickens, the blockbuster bid by Rupert Murdoch for Time Warner looks set to thrill investors and turn into a long running series. The media mogul has had his eighty billion USD cash and shares bid for Time Warner rejected. Investors are now in suspense awaiting the next twist in the drama. Time Warner stock has already risen by around seventeen percent. So how can you trade the shares while a fresh bid is expected? 

Peter Garnry, Saxo Bank's Head of Equity Research, says investors should go long on Time Warner but try to get out if and when the deal goes through.   

Rupert Murdoch's company confirmed on Wednesday that its offer for Time Warner had been dismissed. In a statement the company insists it has no ongoing dialogue with Time Warner. 

21st Century Fox wants to combine the two companies into what would be an entertainment mega company. In a statement released by Warner the company said that the proposal from Murdoch was in not in the best interest of either the company or its shareholders. 

The Time Warner share price rose 16.35 percent in the first twenty minutes after the bid became public earlier this week, and is currently trading around 82 dollars and 62 cents per share.