Rupert Murdoch Abandons Bid For Time Warner
Posted at 9:12PM Tuesday 05 Aug 2014
Rupert Murdoch has withdrawn his offer to buy Time Warner, which would have created the world's largest film and television company.
21st Century Fox, the media tycoon's entertainment holding company, cited Time Warner's refusal to engage in talks over an $80bn bid as the reason for its withdrawal, as well as a 2pc fall in Fox's share price since the offer was revealed.
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