Rupert Murdoch's 21st Century Fox offered an $80 billion takeover bid for Time Warner, but the offer was rejected.
 
According to the New York Times, Chase Carey, the 21st Century Fox president, held talks with Jeff Bewkes in early June.

Merger of the two companies would create a giant in the American media industry with a market capitalization of more than $140 billion, Gazeta.ru reported.
 
According to some reports, Rupert Murdoch is holding talks on sale of CNN, a part of his media business.