Rupert Murdoch wants to own all the media. All of it. According to The New York Times, Murdoch and his entertainment company — 21st Century Fox — attempted to buy Time Warner for $80 billion, but the offer was rejected.
As part of the offer, 21st Century Fox said it would sell CNN to alleviate any antitrust concerns that arose because Fox News competes with CNN.
21st Century Fox released the following statement regarding the failed takeover bid: “21st Century Fox can confirm that we made a formal proposal to Time Warner last month to combine the two companies. The Time Warner Board of Directors declined to pursue our proposal. We are not currently in any discussions with Time Warner.”
Don’t take that to mean this is over with. In fact, it’s probably just beginning. Don’t forget, this comes only a week after word leaked that News Corp might try to buy Tribune Newspapers.