Twenty-First Century Fox confirms Time Warner bid

By: Associated Press Email
By: Associated Press Email

Rupert Murdoch's Twenty-First Century Fox says Time Warner rejected its offer last month to combine the two media entertainment giants.

Twenty-First Century Fox Inc. also says it is not currently in discussions with Time Warner.

The New York Times is reporting that the June bid totaled $80 billion, or $85 in stock and cash for each Time Warner Inc. share. The report cites anonymous sources and says Twenty-First Century Fox would have sold CNN as part of the deal to avoid anti-trust concerns, because its Fox News competes directly with the news network.

The Times also says that Murdoch is determined to make a deal.

Shares of Time Warner are soaring in premarket trading. The New York company's holdings include the cable movie channel HBO and Warner Bros. studios.


KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.

powered by Disqus
KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 267345441 - nbc11news.com/a?a=267345441