FINANCIAL TIMES: …Mr Murdoch has pulled off many audacious deals over the last half century but the media mogul saved his biggest bid until his ninth decade. The cash and stock offer, worth about $86 a share before Fox shares fell on Wednesday, would add HBO, Turner and Warner Bros to his empire and unite media brands from Batman to Fox News host Bill O’Reilly.
The offer was made in early June at a private lunch in Time Warner’s Manhattan headquarters attended by Chase Carey, Mr Murdoch’s top lieutenant, and Jeff Bewkes, Time Warner’s chairman and chief executive. When Mr Carey mentioned the offer Mr Bewkes abruptly ended the lunch to consult with his board, according to a person familiar with the situation.
Mr Murdoch has long coveted Time Warner but his next move is unclear. “He will have to go hostile unless he comes back with a knockout price, which we don’t think he can afford,” said a person close to Time Warner… (more)
EDITOR: Murdoch is seeking Conservative control over the media and thus over the minds of the population. Like Lancaster Newspapers, Inc., Murdoch understands that if you control the only access for news, the public will think whatever you want them to think.
