Rupert Murdoch's media empire 21st Century Fox made an $80 billion takeover bid last month for Time Warner Inc. but was rebuffed, The New York Times reports.
"21st Century Fox can confirm that we made a formal proposal to Time Warner last month to combine the two companies," the company said in a statement released today. "The Time Warner Board of Directors declined to pursue our proposal. We are not currently in any discussions with Time Warner."
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in