21st Century Fox denies talks for tie-up with Discovery Communications

NEW DELHI: 21st Century Fox has denied as “categorically untrue” that senior executives from 21st Century Fox and Discovery Communications had met to discuss a tie-up that could create a $100 billion movie, entertainment and sports giant.


The story had appeared in the Australian Financial Review.


Rupert Murdoch of Fox and John Malone, a major shareholder in Discovery (and a director) and chairman and CEO of Discovery Holdings, have a long history in media, sometimes fighting one another and other times co-operating.


Australia’s Sydney Morning Herald on 23 February reminded readers that News Corp-backed Foxtel is already working on a 50/50 deal with Discovery to buy Australia’s Ten Network.


A few months ago billionaire Prince Alwaleed bin Talal, a shareholder in News Corp/21st Century Fox, following the ending of 21st Century’s bid for Time-Warner had said, “Combining both companies would have been a dream proposal because the amount of content the combined company would have had would have been tremendous.”


“Knowing Mr Murdoch, I think the idea is still in his mind. But I think the time is not right now because the management of Time Warner are against it, and the shareholders of Fox were also not for it,” he had told CNN in September. 

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