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Aug 11 Hedge fund ValueAct Capital LLC has taken
a $1 billion stake in Rupert Murdoch-controlled film and TV
company Twenty-First Century Fox Inc, CNBC reported.
ValueAct built its position when Fox was seeking to buy Time
Warner Inc, CNBC's David Faber said. (reut.rs/1lOUuJ9)
Fox withdrew its $80 billion bid to buy Time Warner last
week after being rebuffed by the owner of CNN, HBO and Warner
Faber said ValueAct Chief Executive Jeffrey Ubben had told
him he "loves" Fox's standalone plan.
Fox shares were up 1 percent at $34.74 in early trading on
the Nasdaq on Monday.
(Reporting by Soham Chatterjee in Bangalore; Editing by Ted