Hello Guest, if you are reading this it means you have not registered yet. Please take a second, Click here to register, and in a few simple steps you will be able to enjoy our community and use our OpenViX support section.
Results 1 to 1 of 1

Thread: Rupert Murdoch gets rejected with $80 billion bid for Time Warner

  1. #1
    Larry-G's Avatar
    Title
    V.I.P
    Donated Member
    Join Date
    May 2010
    Posts
    32,542
    Thanks
    7,824
    Thanked 22,934 Times in 12,378 Posts

    Rupert Murdoch gets rejected with $80 billion bid for Time Warner

    The media industry went berserk today when it was discovered that Rupert Murdoch and 21st Century Fox had bid $80 billion for Time Warner and its prized possession: HBO.

    Time Warner turned down the proposal but many say the saga is nowhere near over. Murdoch is said to be determined and higher bids are likely coming.

    A merger of the two companies would create a behemoth. Besides HBO, the companies would control Fox broadcasting, Warner Bros. studios, and 20th Century Fox. One notable takeaway from the reports is that Fox planned to sell CNN if it acquired Time Warner, which it hopes would allay some anti-trust fears.

    The industry is ripe for mergers, especially as cable companies head towards mergers and better leverage in content negotiations. Before the Time Warner bid, Fox had been considering buying Scripps, the owner of HGTV and Food Network, and Univision, the largest Spanish language cable network.

    In addition, the takeover would give Fox major broadcasting rights for NBA, NCAA and MLB sports, on top of their current NASCAR and other rights.

    In their rejection of the offer, CEO Jeff Bewkes says "our business plans will create significantly more value for the company and our shareholders, and that's superior to any proposal that Fox is in a position to offer." Also, other potential partners like Comcast and AT&T are in the middle of consolidations that may or may not go through, so Time Warner believes it is not a great time to take a takeover offer.

    Source:

    NYT

    Code:
    http://www.afterdawn.com/news/article.cfm/2014/07/17/rupert_murdoch_gets_rejected_with_80_billion_bid_for_time_warner

    My posts contain my own personal thoughts and opinions, they do not represent those of any organisation or group but my own.

    If you don't like what I post, Don't read it.

    SIMPLES.

  2. The Following 2 Users Say Thank You to Larry-G For This Useful Post:

    cwebb66 (19-07-14),Sicilian (17-07-14)

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.