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Merger of Media Giants: Rupert Murdoch’s 21st Century Fox is all set to raise an $80 billion takeover bid for Time Warner Inc.

Rupert Murdoch’s 21st Century Fox Inc. agreed to sell its pay-TV businesses in Italy and Germany for more than $9 billion, gaining funds to raise
an $80 billion takeover bid for Time Warner Inc. British Sky Broadcasting Group Plc, which is 39 percent owned by Fox, will acquire Fox’s wholly owned Sky Italia unit for 2.07 billion pounds ($3.5 billion) in cash plus a stake in National Geographic Channel International, Isleworth, England-based BSkyB said today. It will pay 2.9 Read more...

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