21st Century Fox Denies Talks With Discovery

By Jon Lafayette
( Broadcasting & Cable )
published

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.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.