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MURDOCH IS "RESOLUTE" IN HIS DECISION NOT TO BUY TIME WARNER

August 7, 2014 by · Leave a Comment 

Appearing to dismiss some analysts’ speculation that 21st Century Fox’s abrupt withdrawal of its $80-billion offer to buy Time Warner was part of a negotiating strategy, both company Chairman Rupert Murdoch and COO Chase Carey insisted on Wednesday that the offer will not be revived. "This is our resolute decision," said Murdoch, whose words were underscored by Carey: "Let me be clear, we are done." Murdoch further insisted that he would not be going out "into the acquisition trail. … Look at our best business. We started them ourselves." He noted, for example, that Fox News operated in the red for seven years, "and today it is making well over a billion dollars a year." For his part, Time Warner chief Jeff Bewkes said that his company, too, is planning no acquisitions. "We are not lacking something we need," he said during a conference call on Wednesday.