Time Warner rejects 21st Century Fox’s $80 billion offer


FOXTime WarnerAfter various press reports made the suggestion, 21st Century Fox confirmed that it made an $80B formal offer ($85/share comprised of both cash and stock) to buy Time Warner last month, but was ”rebuffed.”

Press reports suggest that 21st Century Fox was anticipating over $1B in synergies and had also proposed to sell off CNN in order to get a deal of this size through the regulators. Apparently, Time Warner CEO Jeff Bewkes took this offer to the Board of Directors, where it was ”curtly” rejected.

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