Last month, Twenty-First Century Fox Inc. had a $76 billion cash-and-stock surprise offer for Time Warner Inc. rejected, but the move points to a media-industry climate that is ripe for consolidation.
The Fox offer follows Comcast Corp.’s proposed $45 billion takeover of Time Warner Cable Inc., which was made in February and is currently being vetted by regulators.
Analysts who spoke to the Associated Press said the media environment is ripe for consolidations as the lines between television and digital and online viewing blur. Time Warner owns TV channels such as TNT, TBS and HBO. Twenty-First Century Fox is known for producing movie hits such as “Dawn of the Planet of the Apes” and the “X-Men” franchise.
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