Claudia Higgins Weighs in on Possible 21st Century Fox Acquisition of Time Warner in Bloomberg
Bloomberg reports that Rupert Murdoch, chairman and CEO of 21st Century Fox, has proposed a $75 billion offer to Time Warner Inc. to acquire and control the company. If the deal were to go through, Bloomberg estimates that networks owned by Fox would make up 20 percent of the typical US cable bill. This is just the latest in a number of recently proposed or announced mergers in the television industry that could result in consumers having fewer choices as well as more expensive cable bills.
According to Kaye Scholer Antitrust Partner Claudia Higgins, “Presumably, Fox wants to do this deal to gain greater negotiating leverage with cable operators, and that’s exactly what antitrust regulators would be worried about.”