21st Century Fox [Rupert Murdoch] withdraws offer for Time Warner

21st Century Fox withdraws offer for Time Warner

Los Angeles Times | August 5, 2014 | 1:26 PM

21st Century Fox Chief Executive Rupert Murdoch said today that his company was withdrawing its $80-billion bid for rival media company Time Warner.
The media mogul said that combining the two companies would have been a “unique opportunity” but he wanted the bid to be friendly.
Time Warner had dug in with its resistance, and Murdoch said he did not want to engage in a protracted and hostile battle.
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