www.411mania.com
|  News |  Film Reviews |  Columns |  DVD/Other Reviews |  News Report |
SPOTLIGHTS  SPOTLIGHTS
MOVIES/TV
// Deadpool Officially Moving Forward, Gets 2016 Release Date
MUSIC
// J-Lo and Iggy Azalea's Butt-Filled 'Booty' Video Is Full Of Booty Shaking
WRESTLING
// Complete Impact Wrestling Taping Results (SPOILERS)
MMA
// Summer's Last Hurrah: Hunt vs. Nelson
GAMES
// New Multiplayer Gameplay Trailer Released for Battlefield Hardline


MOVIE REVIEW  MOVIE REVIEWS
//  A Walk Among the Tombstones Review
//  This Is Where I Leave You Review
//  The Zero Theorem Review
//  The November Man Review
//  As Above, So Below Review
//  Sin City: A Dame to Kill For Review
 HOT MOVIES
//  The Dark Knight Rises
//  The Avengers
//  Prometheus
//  The Amazing Spider-Man
//  Iron Man 3
//  The Hobbit
SYNDICATE  SYNDICATE



411mania RSS Feeds





Follow 411mania on Twitter!




Add 411 On Facebook
 


 
 411mania » Movies » News

Advertisement
21st Century Fox Withdraws Bid To Buy Time Warner
Posted by Joseph Lee on 08.05.2014



Coming Soon reports that 21st Century Fox has officially withdrawn a proposal to buy Time Warner for $80 billion. They also announced that they authorized a $6 billion share repurchase program to buy back Class A Common Stock, which will happen in the next 12 months.

Chariman and CEO Rupert Murdoch said: "We viewed a combination with Time Warner as a unique opportunity to bring together two great companies, each with celebrated content and brands. Our proposal had significant strategic merit and compelling financial rationale and our approach had always been friendly. However, Time Warner management and its Board refused to engage with us to explore an offer which was highly compelling. Additionally, the reaction in our share price since our proposal was made undervalues our stock and makes the transaction unattractive to Fox shareholders. These factors, coupled with our commitment to be both disciplined in our approach to the combination and focused on delivering value for the Fox shareholders, has led us to withdraw our offer. 21st Century Fox's future has never been brighter. The strength of our leading franchises, combined with the power of our emerging growth businesses and the leadership positions of our international enterprises put us on a path for even greater success. This significant return of capital underscores the Company's ongoing commitment to disciplined capital allocation and returning value to shareholders in a meaningful way."

Time Warner responded in a statement: "Time Warner's Board and management team are committed to enhancing long-term value and we look forward to continuing to deliver substantial and sustainable returns for all stockholders. Time Warner is well positioned for success with our iconic assets, including the world's leading premium television brand, the world's strongest ad-supported cable network group, and the world's largest film and television studio. We thank our stockholders for their continued support."

If the deal happened, it would have combined TIme Warner's subsidiaries (New Line Cinema, HBO, TBS, The CW, Warner Bros., Kids' WB, Cartoon Network, Boomerang, Adult Swim, CNN, DC Comics, Warner Bros. Animation, Cartoon Network Studios, Hanna-Barbera, MLB Network and Castle Rock Entertainment) with 21st Century Fox's subsidiaries (Fox Entertainment Group - 20th Century Fox, FOX; STAR TV, Sky Italia and stakes in BSkyB and Sky Deutschland).





MUST-READ 411 STORIES:

Top 5 Wanted Movie Re-Releases

A Walk Among the Tombstones Review

This Is Where I Leave You Review


comments powered by Disqus











www.41mania.com
Copyright (c) 2011 411mania.com, LLC. All rights reserved.
Click here for our privacy policy. Please help us serve you better, fill out our survey.
Use of this site signifies your agreement to our terms of use.