Rupert Murdoch’s 21st Century Fox (FOXA) reportedly aims to take over Time Warner (TWX) as analysts say a wave of media consolidation beckons in the wake of proposed mergers among TV distributors. Time Warner’s stock shot up 15% in early trading to 81.66 on the stock market today after the New York Times reported that 21st Century Fox bid $80 billion for Time Warner in June but was rebuffed. Fox reportedly offered $85 in stock and cash for each
Rupert Murdoch’s 21st Century Fox (FOXA) reportedly aims to take over Time Warner (TWX) as analysts say a wave of media consolidation beckons in the wake of proposed mergers among TV distributors. Time Warner’s stock shot up 15% in early trading to 81.66 on the stock market today after the New York Times reported that 21st Century Fox bid $80 billion for Time Warner in June but was rebuffed. Fox reportedly offered $85 in stock and cash for each
Media and entertainment companies will gain from growing content demand by Internet video providers as well as traditional broadcast TV, says investment bank Jefferies, which on Thursday initiated coverage on the sector. Jefferies analyst John Janedis started coverage with buy ratings on CBS (CBS), Walt Disney (DIS), Twenty-First Century Fox (FOXA), Time Warner (TWX) and Viacom (VIA). “Despite emerging threats to the business model, we believe