Report: Rupert Murdoch made offer for Time Warner

Twenty-First Century Fox, the media empire run by Rupert Murdoch, made an $80 billion takeover bid in recent weeks for Time Warner but was rebuffed, people briefed on the matter said on Wednesday.

Combined, Fox and Time Warner would have had an array of television networks and channels like Fox, Fox News, FX, TNT and TBS, the premium subscription channel HBO, movie studios like Twentieth Century Fox, Warner Brothers and other high-profile outlets, according to the New York Times.

The combined company would have total revenue of $65 billion.

The same people told the New York Times that Fox first approached Time Warner in early June.

Read more from the New York Times.