Rupert Murdochs 21st Century Fox has reportedly made an $80 million bid for Time Warner. The New York Times reports that the bid was declined, citing people briefed on the matter, but the offer could nonetheless destabilize the proposed Comcast-Time Warner merger. Fox News and CNN are direct competitors, and a sale could potentially avoid antitrust concerns. Fox would control the output of the Warner Bros. production and distribution business for TV shows and movies, the Turner TV portfolio (which includes NBA and MLB broadcast rights), and HBO.
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