Fox Media Firms Rise After Atampt-time Warner Approval

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– Twenty First Century Fox Inc’s shares rose 8 percent to a record-high on Wednesday as an approval for AT&T’s buyout of Time Warner Inc spurred speculation that Comcast Corp would proceed with an offer for most of the media company’s assets.

Comcast’s proposal, widely expected later in the day, could upend Fox’s $52 billion all-stock deal to be bought by Walt Disney.

A federal judge on Tuesday approved AT&T Inc’s $85 billion buyout of Time Warner, rebuffing an attempt by U.S. President Donald Trump’s administration to block the deal and clearing the path for more such deals in a rapidly changing media industry.




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