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Time Warner Turns Down Murdoch Takeover Bid… For Now

Posted by Ellen -7859.80pc on July 16, 2014 · Flag

Rupert Murdoch, the owner of Fox News, wants to buy CNN – along with HBO, Warner Bros., DC Comics, the Cartoon Network and all the other brands under the Time Warner umbrella. Today, Time Warner rebuffed the offer. But Murdoch may well succeed in making his already-oversized media conglomerate even larger.

From today's New York Times article about the Time Warner rejection:

Mr. Murdoch has built a global media juggernaut over nearly five decades spanning studios, television channels and newspapers, in part, by pursuing bold deals that were often rebuffed at first by the targets of his overtures, only to later acquiesce.

…It is unclear what 21st Century Fox’s next steps will be. With the disclosure of the takeover approach, pressure from Time Warner shareholders could mount on (Time Warner chief executive) Mr. Bewkes to begin talks. About 70 percent of Time Warner shareholders, including many big mutual funds, also own shares in 21st Century Fox.

While the talks between the two companies have thus far been considered friendly, people involved in the discussions said that Mr. Murdoch is determined to buy Time Warner and is unlikely to walk away.


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Richard Santalone commented 2014-07-17 11:42:41 -0400 · Flag
@ Janet Tuhey And furthermore Janet, regarding my comment yesterday about Viacom being the parent company of Comedy Central (i.e. Jon Stewart’s employer), we should NOT be surprised one bit if, in the not too distant future, Herr Goebbels II (i.e. Murdoch) makes like “The Godfather” and makes Sumner Redstone (chairman and majority stockholder of CBS Corporation and Viacom) “an offer he can’t refuse”.
Richard Santalone commented 2014-07-17 09:29:49 -0400 · Flag
@ Janet Tuhey LOL! Relax Janet — we’re all human. Just FYI, here’s a useful link I use when I’m looking up media ownership issues:

http://www.mediaowners.com

Yet, as you and Antoinette correctly pointed out, just like that ruthless warmongering media maniac “Elliott Carver” in the classic James Bond movie “Tomorrow Never Dies” (played by actor Jonathan Pryce) “megalomania” IS and always will be the modus operandi of Herr Goebbels II (i.e. Murdoch). Mark my words Janet: like the Koch brothers, Herr Goebbels II’s ultimate wet dream is to turn America into another 1930s NAZI GERMANY!
Janet Tuhey commented 2014-07-16 15:51:21 -0400 · Flag
Richard, Oops, my bad. You’re right. Guess I’ll eat some crow for my late lunch.
Antoinette commented 2014-07-16 14:20:45 -0400 · Flag
Ruthless Rupy wants to buy out his competitors. That’s how this old clown operates. Ruthless is still under investigation for the hacking scandals in the U.K. Time Warner is keeping a safe distance from this fool. And trust us, the suits at Time Warner keep track of those scandals in the U.K.

Since Ruthless is willing to spend $80 billion dollars, we suggest he build housing for homeless and disable veterans in the U.S. Hey, it’s a tax write-off for the old bugger.

We want all the masses to post this to all social media, and make it go viral:

Murdoch Should Spend $80 Billion To Help Build Homes For Our Homeless and Disable Vets

Call all radio stations, local and national, and tell the host and listeners this gem.

“Too bad Rupert Murdoch does not spend $80 billion building housing for our homeless and vets. Many are struggling, mentally and physically. Plus, it’s a write off for him, don’t you agree?”

Tell every conservative this gem:

“It would be nice if News Corporation/21st Century Fox CEO Rupert Murdoch spent $80 billion to build housing for our homeless vets, many who are disabled, don’t you agree?”

NOTE TO RUPY

Come on, you old bugger. Put your money where your mouth is and build some homes for our homeless and disable veterans.
Joe Marsh commented 2014-07-16 14:13:05 -0400 · Flag
Assuming Ellen is correct and Murdoch succeeds in grabbing Time Warner, the first thought that comes to my mind (perverse, as usual) is what sort of real estate moves will result.

Obviously, none of the new properties can fit into that ugly (as Antoinette has told us many times) building at 1211 Avenue of the Americas.

[Actually, this building was the last the Rockefeller Center extensions, but has none of the class of the first to go up, a decade earlier, by the same architects, known as the Time-Life Building a few blocks up the street.]

Time Warner itself announced that it was giving up all its space at the Time Warner Center (aka “The Steve Case Memorial,” which most of us here know as Beverly Center East) and moving to one of the new needle towers (80 floors) that will rise over the Hudson Rail Yards (one of the most obscene boondoggles ever, IMO).

http://www.nytimes.com/2014/01/17/nyregion/time-warner-announces-a-move-from-columbus-circle-to-hudson-yards.html

The real estate scene in this city is going bonkers, as more and more of these ridiculously tall and dangerous buildings sprout up, all targets for future terrorists, not to mention the tornadoes we now have in NYC. So many companies are leaving perfectly good buildings for no reason other than oligarchs, vanity or pure madness.

Conde Nast got tired of the skyscraper at Times Square it occupied for all those long 15 years and is moving to the monster new 1 World Trade Center. Everyone feels this move was driven mainly so Graydon Carter and Anna Wintour could walk to work from their downtown apartments.

Time Inc. (being spun off from Time Warner) is giving up its space on Sixth Ave., and moving to new digs at what used to be called Battery Park City (but at least a building with a wide base).

The final question on my mind is what will Slanthead do if FNC moves its studios over to 12th Avenue? Will he find a McDonald’s there? One of the reasons he stays with Fox (and puts up with the disrespect he gets there) is that there’s a 24/7 Mickey D’s just across Sixth Ave. from the current studio. And since the franchises (here in the city, at least) do not hire undocumented workers, he doesn’t have to worry about cooties on his Big Mac.
Jan Hall commented 2014-07-16 14:04:46 -0400 · Flag
Fox News purchase The Cartoon Network? Isn’t that Redundant?
Richard Santalone commented 2014-07-16 13:39:05 -0400 · Flag
@ Janet Tuhey Pardon me Janet — correct me if I’m wrong on this, but isn’t Comedy Central (i.e. Jon Stewart’s employer) owned by Viacom, NOT Time Warner?
Richard Santalone commented 2014-07-16 13:36:19 -0400 · Flag
Question: outside of Sen. Al Franken, is there ANYONE in Congress with enough balls to stand up to that big skinheaded Nazi Herr Goebbels II (i.e. Murdoch)??
Janet Tuhey commented 2014-07-16 13:28:29 -0400 · Flag
Megalomania is Rupy’s driving force, of course. Buying the company that “owns” Jon Stewart — priceless.








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