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Twenty-First Century Fox withdraws bid for Time Warner
August 5, 2014 / 8:21 PM / 3 years ago

Twenty-First Century Fox withdraws bid for Time Warner

Aug 5 (Reuters) - Twenty-First Century Fox Inc said on Tuesday it had withdrawn its proposal to buy Time Warner Inc .

“Time Warner management and its board refused to engage with us to explore an offer which was highly compelling,” Chief Executive Rupert Murdoch said in a statement.

The company also said its board had authorized a $6 billion share buyback program. (Reporting By Lehar Maan in Bangalore; Editing by Maju Samuel)

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