A potential combination of entertainment giants
Although Time Warner has rejected an offer valued at $80 billion by 21st Century Fox, industry analysts don't expect 21st Century Fox Chairman
A pairing of 21st Century Fox and Time Warner would put the world's two biggest movie and television production companies under the same roof. Both companies also own power cable networks. Time Warner has HBO,
From an FCC standpoint, there are few regulations on the books that would stand in the way of a 21st Century Fox - Time Warner deal. Although 21st Century Fox owns Fox Broadcasting and Time Warner owns 50% of the
Senior 21st Century executives have acknowledged that should it reach an agreement to buy Time Warner, it would likely spin off the cable news channel CNN.
What would likely be of tremendous concern would be the power a 21st Century Fox - Time Warner combination would have in the creative community, specifically writers and producers looking to make television shows and movies.
The majority of TV shows and movies are produced by just a handful of companies -- Time Warner, 21st Century Fox,
"The increased buying power 21st Century Fox would have is a huge antitrust issue I would expect the Justice Department to look at," said Derek Turner, research director of Free Press, a media watchdog group.
A top priority for 21st Century Fox is to get out from under investigations by the
Last month, Rebekah Brooks, the most senior executive to have been charged in the investigation that led to Murdoch closing News of the World, was acquitted.
While Brooks' acquittal was good news for 21st Century Fox and
At one point the hacking scandal was seen as having the potential to take down much of Murdoch's empire. News of the World was found to have hacked into the voicemails of crime victims as well as celebrities and the royal family.
Murdoch famously apologized while claiming no knowledge of the hacking. When he appeared before Parliament to address the matter, Murdoch called it "the most humble day of my life." His son