Rupert Murdoch Said to Have Made Offer for Time Warner

[YankeeFan]

Rupert's not slowing down. Would be a 25% premium over the current stock price. Will be interesting to see if they ultimately get a deal done, or if Time Warner hooks up with someone else.

The media giant 21st Century Fox, the empire run by Rupert Murdoch, made an $80 billion takeover bid in recent weeks for Time Warner Inc. but was rebuffed, people briefed on the matter said on Wednesday.

The bold approach could put Time Warner in play and might again ignite a reshaping of the media industry, prompting a new spate of mega-mergers among the nation’s largest entertainment companies.

Mr. Murdoch has built a global media juggernaut over nearly five decades spanning studios, television channels and newspapers, in part, by pursuing bold deals that were often rebuffed at first by the targets of his overtures, only to later acquiesce.

Together, 21st Century Fox and Time Warner would become a colossus with an array of television networks and channels like Fox, Fox News, FX, TNT and TBS; the premium subscription channel HBO, movie studios like 20th Century Fox, Warner Bros. and other prominent outlets. It would also combine Fox’s growing sports business with the broadcast rights that Time Warner owns for professional and college basketball and Major League Baseball, among other sports.

The combined company would have total revenue of $65 billion.

nyti.ms/1r3LbKH

 

[The Big Ragu]

This could get interesting. Time Warner is the most prized asset in the media industry -- HBO is a cash cow and whoever ends up with it also gets CNN, TBS and Warner Brothers motion pictures.

Time Warner is not going to be able to fend off being acquired, but by staying hostile to it, it is going to be able to drive up the sale price. When Rupert Murdoch is involved in the bidding, all bets are off. But there is speculation that Apple or Google could step into a bidding war to try to acquire the content. This would be a "crown jewel" acquisition. And all of these companies are swimming in cash, and can pull it off right now, because the Fed has made it so cheap to leverage yourself to the hilt and horde cash.

 

[Michael_ Gee]

No way the FCC or Dept. of Justice sign off on a 21st Century Fox-Time Warner merger. And Ragu is partially right. Time Warner can get a better price.

 

[Starman]

No way the FCC or Dept. of Justice sign off on a 21st Century Fox-Time Warner merger.

 

[Neutral Corner]

No way the FCC or Dept. of Justice sign off on a 21st Century Fox-Time Warner merger. And Ragu is partially right. Time Warner can get a better price.

I hope not. That said, effective antitrust action hasn't exactly been a priority for many years.

Rupert Murdoch with Time-Warner added to his quiver? Ecccch.

 

[britwrit]

Cool. More loot for little Jimmy and little Lachlan to fight over when the old man finally drops.

 

[Baron Scicluna]

No way the FCC or Dept. of Justice sign off on a 21st Century Fox-Time Warner merger.

A merger still won't stop the Rush-bots from screeching about the media, even though there's more deregulation.