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Twenty-First Century Fox denies report it held takeover talks with Discovery

Published 23/02/2015, 05:40
© Reuters. Rupert Murdoch, Executive Chairman News Corp and Chairman and CEO 21st Century Fox speaks at the WSJD Live conference in Laguna Beach in this file photo
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(Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc (O:FOXA) held preliminary takeover talks with Discovery Communications Inc (O:DISCA) with a view to creating a $100 billion entertainment giant, the Australian Financial Review reported on Monday.

Fox, which like other broadcasters is battling a shift to on-demand TV, denied there had been any talks with Discovery, which owns Animal Planet and the Discovery Channel.

"No truth, not even any sort of talks", said John Connolly, a spokesman for the company in Australia. "There is no truth in the rumours."

The AFR reported senior executives from both companies met about two weeks ago to discuss a potential takeover bid, citing unnamed sources close to the situation.

The discussions were "nascent", and there was no guarantee that a formal offer would be made or that discussions have continued, it said.

© Reuters. Rupert Murdoch, Executive Chairman News Corp and Chairman and CEO 21st Century Fox speaks at the WSJD Live conference in Laguna Beach in this file photo

Discovery declined to comment on the report.

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