21st Century Fox: ValueAct Capital takes $1bn stake in Murdoch’s entertainment company August 12, 2014 US hedge fund ValueAct Capital has taken a $1bn stake in Rupert Murdoch’s 21st Century Fox it’s been revealed, less than a week after the entertainment company failed in its $80bn bid to buy Time Warner. ValueAct chief executive Jeffrey Ubben told Reuters "We support (Fox's) stand-alone plan and (believe) that it would drive the [...]
Time Warner share price dips after Rupert Murdoch’s aborted Fox bid August 6, 2014 Not even higher-than-expected profits and a boosted share buyback could prevent Time Warner’s stock crashing 12.85 per cent yesterday, in the wake of Rupert Murdoch’s Twenty First Century Fox withdrawing its $80bn (£47.5bn) bid for the company. US media conglomerate Time Warner reported soaring profit of $843m, beating market expectations, during the second quarter to [...]
Rupert Murdoch doesn’t retreat, he just regroups – Bottom Line August 6, 2014 And just as quickly as he arrived, Murdoch’s gone. His more-than-$80bn (£47bn) bid for Time Warner was swiped from the table almost as suddenly as it landed, and some Time shareholders will be disappointed to see it go. Underestimating Rupert Murdoch is never wise, and though his withdrawn bid may look like a retreat, he’s [...]
Murdoch ends $80bn Time Warner bid, plans $6bn share buyback August 6, 2014 Rupert Murdoch has ended his $80bn bid for Time Warner after it refused to engage with 21st Century Fox over the proposed deal. It ends considerable speculation over a deal which would have created a giant in the American media landscape. 21st Century Fox will instead buy back $6bn of its shares over the next [...]
Time Warner changes rules to make it tougher for 21st Century Fox to buy July 21, 2014 Time Warner last night changed its company bylaws to make it more difficult for 21st Century Fox to pressure the firm into a takeover. The media giant has axed for one year a rule allowing shareholders holding at least 15 per cent of its shares to call a special meeting – a measure that could have [...]
Time Warner investors holding out for improved Rupert Murdoch offer July 17, 2014 Time Warner’s shares rose 3.6 per cent yesterday following news on Wednesday that Rupert Murdoch’s 21st Century Fox had made an unsuccessful $80bn offer for the firm last month. Murdoch might have to raise his $85-a-share bid to as much as $95 a share and boost its cash component to wrap up a takeover of [...]
Rupert Murdoch kicks off Time Warner takeover battle July 16, 2014 Rupert Murdoch has his sights on creating a $150bn (£88bn) media behemoth by shelling out $80bn for the takeover of Time Warner and merging it with his own 21st Century Fox empire, a plan that hit a roadblock last month when Time Warner rejected his advance. Shares in Time Warner jumped 17 per cent to [...]
Rupert Murdoch empire split becomes a blessing for 21st Century Fox takeover bid July 16, 2014 Exactly three years ago this weekend, Rupert Murdoch was sat plonked in front of a group of disapproving MPs. The occasion was supposed to mark a profound chastening for the media mogul, who faced an intense grilling over the hacking scandal that sensationally brought down the News of the World. Murdoch played along, putting on [...]
Time Warner turns down Murdoch after $80bn 20th Century Fox takeover bid July 16, 2014 Time Warner has confirmed that it has turned down a bid from rival entertainment business 21st Century Fox, saying it is not in the "best interests" of the company's shareholders. Shares in Time Warner jumped 13 per cent at pixel time on the news that Rupert Murdoch's company made a multi-billion dollar offer to buy [...]
Murdoch moves eldest son into chairman role March 26, 2014 RUPERT Murdoch yesterday took a key step in preparing News Corp and Twenty-First Century Fox for his eventual retirement by promoting his two sons into key leadership positions. Murdoch’s eldest son Lachlan, 42, will return to the business as non-executive co-chairman of both News Corp and Twenty-First Century Fox, roles he will share with his [...]