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Posts Tagged ‘Time Warner’

Morning Media Newsfeed: Murdoch Withdraws Time Warner Bid | New Leaker Emerges

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After Pushback, Murdoch Abandons Fox’s Pursuit of Time Warner (NYT / DealBook)
At 4:07 p.m. Tuesday, the chief executive of Time Warner Inc., Jeffrey L. Bewkes, received an unexpected email. “On behalf of our board and senior management team, I am writing to inform you that we are withdrawing our offer to acquire Time Warner, effective immediately. Sincerely, Rupert Murdoch.” A hand-delivered letter bearing the same message arrived soon after. TVNewser In short, Murdoch’s 21st Century Fox withdrew its bid for Time Warner, CNN’s parent company. FishbowlNY Early last month, word leaked that Murdoch’s bid of $80 billion was rejected, which raised speculation that he’d try everything in his power to make it happen. Instead, the opposite has occurred. Politico / Dylan Byers on Media Subsequent reports speculated that Murdoch, dogged in his pursuit of an acquisition, would consider upping the offer by as much as $13.5 billion. Had such a deal gone through, it would have merged the country’s top-two cable providers, giving Murdoch control of several top-rated cable networks, including TNT, Fox News, TBS and Cartoon Network. WSJ Fox cited both Time Warner’s unwillingness to “engage with us” and a sharp drop in Fox’s stock price which made a deal “unattractive to Fox shareholders.” Fox’s stock had fallen about 11 percent since news broke last month that it had made a takeover offer for Time Warner, valued at $85 a share.

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Rupert Murdoch Gives Up Trying to Buy Time Warner

It’s over. Rupert Murdoch and his company, 21st Century Fox, have officially given up on trying to buy Time Warner. Early last month, word leaked that Murdoch’s bid of $80 billion was rejected, which raised speculation that he’d try everything in his power to make it happen. Instead, the opposite has occurred.

In a statement, Murdoch essentially blamed it all on Time Warner:

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Morning Media Newsfeed: Zakaria Joins The Atlantic | The Hill Names Cusack Editor-in-Chief

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Fareed Zakaria to Join Atlantic Media as Contributing Editor (FishbowlDC)
Atlantic Media announced Monday that Fareed Zakaria will join The Atlantic and Quartz as a contributing editor in September. In this role, he will write for The Atlantic and participate in AtlanticLIVE and Quartz events. FishbowlNY Zakaria will continue his current roles as host for CNN and a columnist for The Washington Post. HuffPost “I have read The Atlantic with pleasure for three decades,” Zakaria said. “It is the best forum for ideas in the world and I’m delighted to be a part of it and Quartz.” Poynter / MediaWire Zakaria will cover “pressing world matters and culture”, and his work will appear both in the magazine and on TheAtlantic.com, according to Atlantic Media. Politico / Dylan Byers on Media Zakaria’s first event with the company will be Quartz’s The Next Billion: A Connected World conference in New York in November.

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Morning Media Newsfeed: BuzzFeed Editor Fired for Plagiarism | Palin Launches Channel

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BuzzFeed Fires Staffer for 40 Instances of Plagiarism (FishbowlNY)
It looks like the magic number was 40. BuzzFeed has decided to fire its viral politics editor, Benny Johnson, after finding that many instances of plagiarism in his work. FishbowlDC A note to editorial staff sent Friday evening from BuzzFeed editor-in-chief Ben Smith announced that the website has parted ways with Johnson after identifying “40 instances of sentences or phrases copied, word for word, from other sites, many of them inappropriate sources in the first place.” Capital New York Earlier last week, a pair of Twitter users called into question several of Johnson’s posts that had taken phrases and sentences from sources including About.com and National Review. Smith said Friday that editors were reviewing Johnson’s work. Poynter / MediaWire In his note to readers, Smith wrote that the plagiarism constituted “an act of disrespect to readers” and that Johnson’s editors were “deeply embarrassed and sorry” for misleading BuzzFeed’s audience. HuffPost Smith said BuzzFeed would correct every post where plagiarism was found and add editor’s notes to them. Johnson was previously with Glenn Beck’s The Blaze and has also written for Breitbart News.

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Jane Fonda Doesn’t Want Murdoch to Buy Time Warner

jane fonda GGood news for those of you who desire more media commentary from Jane Fonda: She has given her thoughts on Rupert Murdoch potentially buying Time Warner. In short, she think it’s a bad idea.

“I think it would be a catastrophe,” the 76-year-old actress told The Wrap. “If that happens I’m going to be so angry at the FCC. They cannot let that happen.” FCC, you’re officially on notice.

Fonda wasn’t done there. She went on to explain that Murdoch uses his media outlets to spread bad politics. “It’s no secret that Rupert uses his media outlets for political reasons,” said Fonda. “And he is not neutral. And he, you know, his news outlets do things that are unconscionable. And it just cannot happen that he becomes that much of a dominant force in American media.”

We imagine Fonda and Murdoch won’t be getting together for afternoon tea anytime soon.

Bill Maher Sees Dead Cable People

SteveDoocyPicPer a guest column in this week’s Hollywood Reporter, the host of Real Time has a bad, sick-sense feeling about the possible takeover of Time Warner by News Corp. What’s good for the Doocy, the acerbic TV host imagines, will not be good for the Maher:

There’s a terrible price to pay for this. (I mean besides the terrible price I personally will pay when Rupert takes over HBO and my show becomes Paste-Eating Time With Steve Doocy.)

Maher may have it wrong. It seems to FishbowlNY that the more likely Fox News morning show host to be gifted with some extra Friday Real Time would be Elisabeth Hasselbeck.

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Morning Media Newsfeed: Time Warner Plays Defense | Netflix Hits 50 Million Subscribers

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Time Warner Cancels Shareholders’ Ability to Call Special Board Meeting, Guards Against Fox Acquisition (NYT / DealBook)
Time Warner is playing defense. On Monday, the company amended its corporate bylaws and removed a provision that allowed shareholders to call a special board meeting. In a filing with the Securities and Exchange Commission, Time Warner said the change was effective immediately. Variety The media company’s board approved a measure to temporarily prevent a fraction of shareholders, some 15 percent, from forcing a vote on 21st Century Fox’s $85 per-share offer, according to public filings. The so-called special meeting provision may be re-instated at the company’s 2015 shareholders meeting. Deadline Hollywood The fear was that Rupert Murdoch — or anyone — could have tried to stampede short-term investors into accepting a deal even if the board concluded that it would not serve their long-term interests. Time Warner shares were down 1.6 percent in post-market trading following disclosure of the change. THR Murdoch’s 21st Century Fox has bid about $80 billion to acquire Time Warner, but Time Warner’s board and CEO Jeffrey Bewkes have rejected the proposal. Some analysts predict that 21st Century Fox will eventually offer $100 a share for Time Warner. The conglomerate’s stock has climbed 23 percent in the past week on such speculation, and Monday it closed at $87.36. TVNewser People familiar with the original $80 billion proposal that was rejected said if 21st Century Fox took over Time Warner, it would sell CNN to prevent antitrust issues stemming from Fox News and CNN’s direct competitor relationship.

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Morning Media Newsfeed: News Crews Witness Airstrike | Time Warner Stock Surges

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NBC News Crew Witnesses Gaza Airstrike (TVNewser)
NBC News correspondent Ayman Mohyeldin and his crew witnessed an Israeli airstrike that killed four children at a port in Gaza Wednesday. Mohyeldin, who was also caught in the crossfire as Israeli soldiers fired rubber bullets on crowds in East Jerusalem earlier this month, called in to the West Coast edition of Today to describe what he saw, saying it was “a chaotic scene.” TVNewser Hours later, it was chief foreign correspondent Richard Engel who reported the story for Nightly News. FishbowlDC On Wednesday afternoon’s The Lead With Jake Tapper, the CNN host spoke over the phone with the Wall Street Journal’s Middle East correspondent Nick Casey for what proved to be a very intense interview. Casey was located near where the strike took place. Mashable The four children were killed by Israeli airstrikes that hit in close proximity to al-Deira Hotel, a Gaza City hotel full of foreign journalists. The attack came at around 4 p.m. local time and appeared to be the result of a naval shell. At least two additional children were injured, according to local reports. THR The BBC has defended its coverage of the latest Israeli air strikes in Gaza among accusations that the British public broadcaster is too pro-Israeli in its reporting on the region’s escalating conflict. The conflict has been the subject of extensive BBC news coverage, but a prominent pro-Palestine group claims the broadcaster’s programs have been systematically “entirely devoid of context or background.” The Palestine Solidarity Campaign posted an online open letter to BBC director general Tony Hall criticizing the broadcaster for not illustrating what it considers key aspects of the conflict.

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Rupert Murdoch Tried to Buy Time Warner

Rupert-Murdoch-10-7Rupert 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.

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Morning Media Newsfeed: Vargas Detained, Released | Abramson Books Two Interviews

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Jose Antonio Vargas Released From Federal Custody in Texas (TVNewser)
Jose Antonio Vargas, the Pulitzer Prize-winning journalist who was the focus of the recent CNN documentary Documented, was released from the custody of U.S. Border Patrol agents Tuesday evening. FishbowlDC Vargas was detained in McAllen, Texas Tuesday, days after speculating that he may be stuck in the border town. On Friday, Vargas wrote an essay for Politico, where he described his visit to a children’s shelter for Central American refugees. FishbowlNY Vargas was leaving the town to go to a screening of his film in Los Angeles when he was arrested. He was brought to a border patrol station for questioning. Supporters and members of the media gathered across the street, and were warned that if they approached the station any closer, they would also be arrested. HuffPost Vargas flew to the border last week to interview and film undocumented immigrants who have fled their home countries in Central America due to escalating violence. A TSA agent at the McAllen-Miller Airport initially cleared Vargas’ Philippines-issued passport when he attempted to board a flight Tuesday morning. He was placed into custody soon after, however, when he couldn’t produce a U.S. visa at the request of a border patrol agent. Politico / Dylan Byers on Media Vargas, who won a Pulitzer as part of a Washington Post team in 2008, has become an outspoken advocate for undocumented immigrants after “coming out” as undocumented in a New York Times story in 2011.

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