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:

We viewed a combination with Time Warner as a unique opportunity to bring together two great companies, each with celebrated content and brands.