Fox Lost Bid for Time Warner Over Murdoch Succession

Australian Financial Review: For Rupert Murdoch the news of AT&T’s $85 billion deal to buy Time Warner is a sharp reminder of what pursuing his family succession plan has cost him. Two years ago Murdoch was on the brink of a Time Warner takeover after his 21st Century Fox bid $80 billion. But when Time Warner told him to lift his offer, the Great Acquirer blinked.