February 23, 2015 / 3:28 AM / 3 years ago

Twenty-First Century Fox denies report it held takeover talks with Discovery

(Reuters) - Rupert Murdoch’s Twenty-First Century Fox Inc held preliminary takeover talks with Discovery Communications Inc with a view to creating a $100 billion entertainment giant, the Australian Financial Review reported on Monday.

Rupert Murdoch, executive chairman of News Corporation, reacts during a panel discussion at the B20 meeting of company CEOs in Sydney, July 17, 2014.REUTERS/Jason Reed

Fox, which like other broadcasters is battling a shift to on-demand TV, denied there had been any talks with Discovery, which owns Animal Planet and the Discovery Channel.

“No truth, not even any sort of talks”, said John Connolly, a spokesman for the company in Australia. “There is no truth in the rumors.”

The AFR reported senior executives from both companies met about two weeks ago to discuss a potential takeover bid, citing unnamed sources close to the situation.

The discussions were “nascent”, and there was no guarantee that a formal offer would be made or that discussions have continued, it said.

Discovery declined to comment on the report.

Reporting by Lincoln Feast and Byron Kaye in Sydney; Editing by Ian Geoghegan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below