21st Century Fox (FOXA) Affirms Bid for Time Warner (TWX); Two Sides Not in Talks

Twenty-First Century Fox (Nasdaq: FOXA) issued the following statement confirming press reports that it made a proposal to combine with Time Warner Inc. (NYSE: TWX):

"21st Century Fox can confirm that we made a formal proposal to Time Warner last month to combine the two companies. The Time Warner Board of Directors declined to pursue our proposal. We are not currently in any discussions with Time Warner."

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