FOX wants to buy Time Warner

josie

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Fox made and offer, Time Warner rejected it, but this is just the starts of it.....

[h=1]Murdoch's Fox made offer to buy Time Warner[/h]
Shares of Time Warner soared nearly 15% in premarket trading Wednesday following the news.


A report first published in the New York Times revealed that Murdoch made a bid worth $85 a share in stock and cash in June.
The bid was rejected.
The offer is 20% higher than Time Warner's (TWX) stock on Tuesday. The two companies subsequently confirmed that an offer was made and turned down by Time Warner.
Time Warner said in a statement that the company is "confident that continuing to execute its strategic plan will create significantly more value" for shareholders than any proposal Fox could offer.
21st Century Fox added in a statement that it is "not currently in any discussions with Time Warner."
Time Warner owns CNN and CNNMoney. Under terms of the bid, Fox (FOXA) would sell CNN to answer antitrust concerns.
The Times report mentioned ABC and ESPN owner Walt Disney Co. (DIS) as well as CBS(CBS) as possible suitors for CNN.
The Times reported that Fox COO Chase Carey (and not Murdoch) reportedly met with Time Warner CEO Jeff Bewkes to discuss the deal.
But Time Warner's board reportedly rejected the offer. One of the reasons for the rejection of the offer was that the cash and stock bid involved non-voting shares of 21st Century Fox. The Murdoch family controls the voting Fox shares.
But the Times suggested that Murdoch was unlikely to drop his plans to take over Time Warner.
If Fox is able to buy Time Warner, it would hang onto cable networks such as TBS, TNT and premium network HBO, as well as movie studio Warner Bros.
A deal would combine Time Warner's media brands with the Fox broadcast network, the 21st Century Fox movie studio, and entertainment cable networks such as FX as well as Fox news and Fox Sports 1.
It would also give the company access to a number of sports rights deals that Time Warner now holds with the NBA, the NCAA basketball tournament and Major League Baseball.
-- CNN's Cristina Alesci contributed to this report.
Time Warner shares soar on report of Murdoch bid - Jul. 16, 2014


So if FOX eventually buys Time Warner, what impact could it have on Turner and its channels, specifically CN and Boom?
 

Mandouga

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It could probably be bigger then anyone may or may not realize. Short term effects would be the Turner channels falling under Fox (who currently doesn't have a family-oriented channel; and no, the three National Geographic channels don't count) ownership along with their current channels such as FX, FXX, and the FX Movie Channel, as well as making the 1960s Batman series much easier to release in the future. Oh yeah, Fox would have it's own comic book company as well, which could lead to the TV show's original characters (i.e., Zelda, Marsha, the Queen of DIamonds, etc.*) appearing in the comics. As for the long term, who can say, really? One possible scenario is Turner no longer existing as a separate entity, as well as the Turner channels' network decay* (especially one network in particular, whose initials are "C.N.") possibly (repeat: possibly) becoming even worse (again, Fox currently doesn't have a family-oriented network [checks Wikipedia]; well, not in the U.S., anyway, so there's no telling what they might do). In any event, all we can do is follow this story and see what happens.

*I know there will be disagreements, but it has to be said: this includes the creation of [adult swim], as well as giving "TV-PG" to shows that really should have been given "TV-Y7". Also, while the Batman comics feature a character called "King Tut", this is because the original "King Tut" (or rather "Tutankhamen") is a public domain figure, meaning DC Comics could create its own "King Tut" character.
 

MadMan400096

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Shouldn't this be in the Entertainment forum?

Anyway, I doubt this will amount to much. Warner Bros. and 20th Century Fox are two of the biggest movie studios in the world, let alone North America. That alone creates a tower of antitrust concerns that could easily reach Mars, leaving no way in H-E-double hockey sticks that the Feds will approve of this.

EDIT: gmster has a thread over there.
 
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Francisque

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A similar change could shake up things in Italy and other countries too...
Here in Italy Turner does a joint venture with Mediaset (a serious Sky competitor) for Boing and some other things, and I doubt they would continue such an operation! A positive thing would be the launch of the HD channel on Sky..
However I'm afraid of the negative possibilities, like the possibility decay of the schedule
 

SF4Ever

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Shouldn't this be in the Entertainment forum?

Anyway, I doubt this will amount to much. Warner Bros. and 20th Century Fox are two of the biggest movie studios in the world, let alone North America. That alone creates a tower of antitrust concerns that could easily reach Mars, leaving no way in H-E-double hockey sticks that the Feds will approve of this.

I agree- it's Grade A horse hockey. We all know Cartoon Network is coming back to it's basics, but Time Warner doesn't need Fox's baggage and you're right, the FCC will not approve of this. At the same time, Time Warner is fine, just as it is, especially when it's in competition with archrival Disney. Fox had better worry about getting its own house in order and forget about acquiring Time Warner, altogether.
 

gmster

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Fox is attempting to buy Time Warner

PREVIOUS, 4:39 AM: Time Warner’s up nearly 20% in pre-market trading after The New York Times and CNBC reported that the media giant recently rejected an $80B takeover proposal by Rupert Murdoch‘s 21st Century Fox.

The bid could “put Time Warner in play and might again ignite a reshaping of the media industry,†the Times says. Fox COO Chase Carey met with Time Warner chief Jeff Bewkes in early June offering $85 a share — 40% of it in cash — a 25% premium at the time. The proposal said that the combined companies could save at least $1B by eliminating duplication.

Fox, which owns Fox News, offered to sell CNN to avoid antitrust problems, and indicated that it would maintain Time Warner’s studio and cable network operations, as well as most of its best execs, according to the reports. The Time Warner board seriously considered the proposal but rejected it, in part because the offer included nonvoting shares. Nonetheless, “Rupert Murdoch is ‘determined’ to buy Time Warner,â€

UPDATE. 6:46 AM: Time Warner confirms that it rejected 21st Century Fox‘s acquisition offer saying its board concluded that remaining independent “will create significantly more value for the Company and its stockholders and is superior to any proposal that Twenty-First Century Fox is in a position to offer.â€

UPDATE: Time Warner Shares Soar On Reports Of $80B Offer By Rupert Murdoch - Deadline.com
 

RegularCapital

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I agree- it's Grade A horse hockey. We all know Cartoon Network is coming back to it's basics, but Time Warner doesn't need Fox's baggage and you're right, the FCC will not approve of this. At the same time, Time Warner is fine, just as it is, especially when it's in competition with archrival Disney. Fox had better worry about getting its own house in order and forget about acquiring Time Warner, altogether.

This is what I wrote on the CN International thread, I know not many people from the U.S. read the thread, but here's a summary of what I posted:

I doubt it will happen because of EU competition rules and because of Ofcom in the UK, the FCC and the FTC in the U.S.

The British Government has been strict on Sky and blocked a full News Corp merger with BSkyB because of the Phone Hacking scandal and was nearly deemed as a "not a fit and proper broadcaster".

They would also have to sell their shareholding in ITV.

Fox split from News Corp to separate from its controversial newspaper business and then buy Sky Europe.

TimeWarner is getting smaller because of the recent demergers, it's becoming a takeover target.

Is Fox Kids coming back? (It was a channel in Europe) :D
 

Goldstar Neo

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SF4Ever said:
We all know Cartoon Network is coming back to it's basics

How so? No offense, but I really don't see it. The only notable difference that I've seen on Cartoon Network as of late is that CN's execs seem to have cooled on the live action programming, at least for now.

Anyway, I figure that the FCC would never allow such a monopoly to happen. It would like if Disney and Warner Brothers wanted to merge into one super studio.
 

Daikun

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If we've learned anything from AOL, it wouldn't work out.

Also, Time Warner is way too big for Fox's britches.
 

gmster

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Despite Time Warner shooting down Fox's initial offer, Rupert Murdoch is adamant on this deal happening.

Even so, Murdoch and his advisers are unlikely to abandon the pursuit, a second person close to the situation said, pointing out that he has the "disciplined determination" to get a deal done.

Fox estimates that a combined company, which would have $60 billion in annual revenue, would save $1 billion in costs and possibly more, primarily by cutting sales staff and back-office functions, the people familiar with the matter said.

They said detailed negotiations with Time Warner could reveal much higher synergies than $1 billion, which may then justify sweetening the offer.

A deal may win the blessing of many of Time Warner's shareholders, a majority of whom also own Fox's non-voting stock.

Fox has no desire to go hostile or to bid against itself with a higher offer, the people familiar with the matter said.

The deal makes a lot of sense for Time Warner shareholders, said Ken Griffin, founder and chief executive officer of Citadel Investments Group, which owns shares in both companies.

Speaking at a conference in New York, Griffin said there was no controlling shareholder in Time Warner, meaning the company could easily go into play. “It’s going to be tough to say no,” he said.

Murdoch seen likely to pursue Time Warner despite rebuff | Reuters
 

Erased Paper

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I expected that someone would want to buy Time Warner at some point. I wouldn't want this to happen, but if it does, I would laugh at the irony of the whole WB Network vs. Fox thing.
 

gmster

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When you think about it, the implications of what this deal would do are pretty mind-boggling.

  • Fox would take control of WB's film library, and likely absorb Warner Bros. Pictures into 20th Century Fox. Likewise for WB's television and animation units.
  • Fox would own DC Comics. How about a X-Men/Justice League team-up movie? :eek:
  • Fox would own 50% of The CW.
  • Fox would own HBO.
  • Fox would absorb Turner Broadcasting. (Cartoon Network, Boomerang, TNT, TBS, TCM, and TruTV.) (CNN, and presumably HLN, will be spun-off.)
 

SF4Ever

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How so? No offense, but I really don't see it. The only notable difference that I've seen on Cartoon Network as of late is that CN's execs seem to have cooled on the live action programming, at least for now.

Anyway, I figure that the FCC would never allow such a monopoly to happen. It would like if Disney and Warner Brothers wanted to merge into one super studio.

You probably didn't hear the news that Cartoon Network activated Christina Miller as their new president- things can only improve from there. Warner Bros. and Disney will never merge, not in this lifetime- the rivalry between the two studios goes back many years. Before Turner and Time Warner merged, Ted Turner bought Hanna-Barbera before then-Disney president Michael Eisner could get his hands on the property(I still wonder why Eisner didn't purchase Ruby-Spears for Disney, but that's another story). The Warner Bros.-Disney rivalry will go on for many years and don't be surprised if Cartoon Network's fortunes greatly improve under Christina Miller's leadership, it's just a matter of time.
 
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When you think about it, the implications of what this deal would do are pretty mind-boggling.

  • Fox would take control of WB's film library, and likely absorb Warner Bros. Pictures into 20th Century Fox. Likewise for WB's television and animation units.
  • Fox would own DC Comics. How about a X-Men/Justice League team-up movie? :eek:
  • Fox would own 50% of The CW.
  • Fox would own HBO.
  • Fox would absorb Turner Broadcasting. (Cartoon Network, Boomerang, TNT, TBS, TCM, and TruTV.) (CNN, and presumably HLN, will be spun-off.)
The first and second implications are great examples of mind-boggling:eek:. The last one is a great one because if Fox absorbs Cartoon Network, there is a strong possibly:confused: that they may revive the "Fox Kids Network or Fox Family" name to rename and rebrand CN (since Fox does not have its own family/kids network of its own).
 

Goldstar Neo

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You probably didn't hear the news that Cartoon Network activated Christina Miller as their new president- things can only improve from there.

Yes, I read about Christina Miller being named the new president of Cartoon Network, but that alone isn't any indication that CN will be "going back to it's roots". No plans or strategies or changes for the network have been announced as of yet. I get that you're optimistic, but I think that you may be jumping the gun here. Things may gradually improve over at CN, but the reality of it is that Cartoon Network will never go back to being old Cartoon Network.


Warner Bros. and Disney will never merge, not in this lifetime- the rivalry between the two studios goes back many years. Before Turner and Time Warner merged, Ted Turner bought Hanna-Barbera before then-Disney president Michael Eisner could get his hands on the property(I still wonder why Eisner didn't purchase Ruby-Spears for Disney, but that's another story). The Warner Bros.-Disney rivalry will go on for many years and don't be surprised if Cartoon Network's fortunes greatly improve under Christina Miller's leadership, it's just a matter of time.

I never said that they would; There's zero chance of a WB/Disney merger. The feds would never allow that to happen. I'm well aware of that fact. I was merely using that as an example of how unlikely the chances are of 20th Century Fox purchasing Time-Warner.
 

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