21st Century Fox Denies Talks With Discovery

Report buyout was discussed is ‘categorically untrue,’ company says
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21st Century Fox denies a report that it has held merger discussions with Discovery Communications.

The Australian Financial Review reported that senior Fox executives met with Discovery execs about two weeks ago. The paper’s sources said the talks were “nascent,” and that while investment banking advisers may have been present, there was no guarantee a formal offer would be made or that discussions have continued.

"The AFR story is categorically untrue,” Fox said in a statement. Discovery declined to comment.

Last year, 21st Century Fox made a bid for Time Warner that was rebuffed. Since then, the company, led by Rupert Murdoch, has said it doesn’t plan any large-scale merger and acquisition activity.

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