21st Century Fox (FOXA) Won't Bid for Viacom (VIAB)

October 24, 2016 12:57 PM EDT

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21st Century Fox (NASDAQ: FOXA) will not be bidding for Viacom (NASDAQ: VIAB), which is evaluating a proposal by majority owner National Amusements to combine with CBS (NYSE: CBS), the company said.

Rumors that 21st Century Fox could submit a bid for Viacom have been in the market for months and picked up recently following AT&T's (NYSE: T) deal to acquire Time Warner (NYSE: TWX).

Viacom bankers from Morgan Stanley and Allen & Company have been reaching out to prospective buyers to see if there is any interest beyond a CBS deal.

When asked about the rumor, 21st Century Fox spokesperson, Nathaniel Brown, said "No truth. In fact Lachlan Murdoch was very clear about this at BofA's conference in Sept."

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