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

October 24, 2016 12:57 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

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."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Hot M&A, Mergers and Acquisitions, Rumors

Related Entities

Morgan Stanley, Bank of America, Definitive Agreement

Add Your Comment