21st Century Fox’s $80bn (£48bn) proposal to buy Time Warner -has Murdoch lost his Midas touch?
Once the ultimate dealmaker, Rupert Murdoch is licking his wounds after the rebuttal of 21st Century Fox’s $80bn (£48bn) proposal to buy Time Warner.
Mr Murdoch said the refusal of Time Warner to engage in discussions, coupled with the negative reaction of Fox’s share price, made the transaction, which would have created a new global media behemoth, “no longer attractive to Fox shareholders”.
Fox is now looking inwards with Mr Murdoch’s board adding another $6bn to the company’s stock buy-back programme.
While Fox reported an almost 17 per cent rise in quarterly revenue last week, News Corp, the publishing arm of Mr Murdoch’s business, which includes The Sun and The Times, continues to pose problems.
Tulisa Contostavlos, the former X-Factor presenter who was cleared of drugs charges following a cocaine sting by The Sun’s Fake Sheikh Mazher Mahmood, plans to sue News Corp in the US over the affair.
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Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
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- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
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