21st Century Fox has denied a previous report today that the company is interested in acquiring Time Warner at $105 a share.
Benzinga first reported Fox was trying to rekindle a bid for Time Warner, while analysts were “mixed.”
But not long after, CNN senior media correspondent Brian Stelter said that a “top spokeswoman” at Fox has called the news of the offer “totally false.”
— Brian Stelter (@brianstelter) January 8, 2016
Fox had previously pursued taking over Time Warner in 2014, valuing it at $85 a share, which was rejected. Eventualy Fox ended its pursuit, with CEO Rupert Murdoch citing Time Warner’s “refusal” to engage.
A combination of Fox and Time Warner would create a giant in the media and entertainment industry, as Fox owns the Fox film studio and numerous TV channels, and Time Warner owns Warner Bros. and channels including HBO, TBS, TNT, and CNN.
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