Rupert Murdoch Pulls Time Warner Bid, Still Top Ticks Market

Did Rupert Murdoch just save the market from his top-ticking acquisition track record (or sentence it to death):

• *21ST CENTURY FOX WITHDRAWS PROPOSAL TO BUY TIME WARNER
• *FOXA SEES BUYBACK OF ADDED $6B SHRS COMPLETED IN NEXT 12 MONTHS

Time Warner is down over 13% after-hours.

Full statement:

21st Century Fox (NASDAQ: FOXA, FOX) today announced that it has withdrawn its proposal to acquire Time Warner Inc.

Chairman and CEO Rupert Murdoch commented:

“We viewed a combination with Time Warner as a unique opportunity to bring together two great companies, each with celebrated content and brands. Our proposal had significant strategic merit and compelling financial rationale and our approach had always been friendly. However, Time Warner management and its Board refused to engage with us to explore an offer which was highly compelling. Additionally, the reaction in our share price since our proposal was made undervalues our stock and makes the transaction unattractive to Fox shareholders. These factors, coupled with our commitment to be both disciplined in our approach to the combination and focused on delivering value for the Fox shareholders, has led us to withdraw our offer.

“21st Century Fox’s future has never been brighter. The strength of our leading franchises, combined with the power of our emerging growth businesses and the leadership positions of our international enterprises put us on a path for even greater success.”

The Board today authorized a $6 billion share repurchase program. The repurchase of an additional $6 billion of Class A Common Stock is expected to be completed in the next 12 months.

Mr. Murdoch continued, “This significant return of capital underscores the Company’s ongoing commitment to disciplined capital allocation and returning value to shareholders in a meaningful way.”

Did he save us from this?

Or sentence the market to death as a 5% decline in stocks from the highs and now the M&A boom is over!!

Comments

[Vampyroteuthis ...]

Murdoch may have learned from the past?

[junction]

FIRE JEFF BEWKES!

[max2205]

He figured out CNN was full of MORONS!

[Goldilocks]

THE DOORS-Twentieth Century Fox (in FoxColor)
http://www.youtube.com/watch?v=EUJ5lbKggEo (2:30)

[Squid Viscous]

What a piece of shit, and his sons are even worse... Zio-fascist cunts

[Skip]

Mr Murdoch's mother was a Jewish woman, Elisabeth Greene.
So he can make aliyah to Israel if he ever needs to. Here is an excerpt of his speech to the ADL:

Speech by K. Rupert Murdoch
To the Anti-Defamation League
ADL International Leadership Award Dinner
New York, New York, October 13, 2010

Thank you, Abe, for those kind words. And thank you for this award.

I can’t say I have been chosen by God. But tonight I can say this: I am honored to be chosen by His people for this award.

I am especially proud that this award bears the name of the ADL. You were founded in 1913 in response to something we cannot imagine in America today: the lynching of an innocent Jew.

In the century since then, you have fought anti-Semitism wherever you have found it. You have championed equal treatment for all races and creeds. And you have held America to her founding promise.

So successful have you been, a few years ago some people were beginning to say, “maybe we don’t need an ADL anymore.”

That is a much harder argument to make these days.

Now, there’s not a single person in this room who needs a lecture on the evil of anti-Semitism. My own perspective is simple: We live in a world where there is an ongoing war against the Jews.

For the first decades after Israel’s founding, this war was conventional in nature. The goal was straightforward: to use military force to overrun Israel. Well before the Berlin Wall came down, that approach had clearly failed.

Then came phase two: terrorism.

Terrorists targeted Israelis both home and abroad – from the massacre of Israeli athletes at Munich to the second intifada.

The terrorists continue to target Jews across the world. But they have not succeeded in bringing down the Israeli government – and they have not weakened Israeli resolve.

Now the war has entered a new phase. This is the soft war that seeks to isolate Israel by delegitimizing it. The battleground is everywhere: the media … multinational organizations … NGOs.

In this war, the aim is to make Israel a pariah.

The result is the curious situation we have today: Israel becomes increasingly ostracized, while Iran – a nation that has made no secret of wishing Israel’s destruction – pursues nuclear weapons loudly, proudly, and without apparent fear of rebuke.

For me, this ongoing war is a fairly obvious fact of life.

[Loucleve]

You have championed equal treatment for all races and creeds. And you have held America to her founding promise.

Yes, by advocating Open Borders/illegal immigrants, homosexualty, hate crimes (only whites mind you) and everything else to turn our once rather peacefula and united country into a chaos of conflicting agendas.

well done ADL, SPLC, MMFA and MoJo.  Fortunately, the Fat Lady hasnt sung yet, and the mid terms await.

[Muh Raf]

Rupert is getting used to pulling out ever since Tony stuck his manhood up Wendy's *ss

[orangegeek]

Buy low, sell high.

Sell high, buy back in the morning.

[ThroxxOfVron]

Yeah.   A nearly symetrical 13% amplitude of that square wave pulse.

Nice simple pump and dump with a fat skim off the rise and the fall.  

Not much more than two weeks carrying the trade through to resolution and clearance.

I would not at all be surprised if He employed more than 10 to 1 leverage and built just as symetrical and brutal a short term options butterfly for full effect.

It was more profitable to crank and flush Time Warner than to buy it and run the damn thing for a decade...

[deflator]

If you had the balls to short the run up, knowing there was no way this deal would happen, do you cover here or wait it out awhile? I think this bad boy goes to the mid 60's real soon.

[tony wilson]

murdoch is a mossad agent

he has oil and gas drilling rights in palestine and syria the parts that have idf above.

what a fucking zionist nazi

[Loucleve]

hmmm, looks like he pulled his head out of his ass just in time.

or maybe he knows something we dont.

[Quantum Nucleonics]

Where's the myspace acquisition on that chart?