Time Warner confirms rejection of 21st Century Fox offer

|About: Twenty-First Century Fox,... (FOXA)|By:, SA News Editor

Time Warner (NYSE:TWX) confirms it rejected an offer from 21st Century Fox (NASDAQ:FOXA).

The company, which infamously merged with AOL in 1999, says it sees "significant risk" of the ability of 21st Century Fox to manage a media giant at the combined scale.

"There are considerable strategic, operational, and regulatory risks to executing a combination with Twenty-First Century Fox," notes Time Warner's board.

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