Date
17 October 2017
Time Warner has turned down an offer from Rupert Murdoch's 21st Century Fox. Photo: Bloomberg
Time Warner has turned down an offer from Rupert Murdoch's 21st Century Fox. Photo: Bloomberg

No deal,Time Warner tells Murdoch’s Fox

Time Warner Inc. has rejected a takeover offer from Rupert Murdoch-controlled 21st Century Fox, saying the plan wasn’t in the best interests of the company, the Wall Street Journal reported Wednesday.

21st Century Fox confirmed that it made an offer that Time Warner rejected and the two sides aren’t in any discussions, the report said.

The deal would have reshaped the media industry, adding Time Warner’s cable channels to Fox’s FX, Fox News and the Fox broadcast network and making the merged venture the dominant film and TV studio business, it said.

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