21st Century Fox ends its $80 billion bid to buy Time Warner

The blockbuster media merger of the summer is reportedly dead in the water. Rupert Murdoch’s 21st Century Fox had offered $ 80 billion for rival Time Warner, a move that would have consolidated a number of major news, film, and television holdings. Today Murdoch announced the deal was off, stating that, “Time Warner management and its board refused to engage with us to explore an offer which was highly compelling.”

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