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Amidst all of the current talk of Disney's planned acquisition of 21st Century Fox, people seem to forget that Fox very nearly bought Time Warner in the summer of 2014.

CNBC said:
Rupert Murdoch's 21st Century Fox said on Wednesday it had offered to buy Time Warner, a move that would unite two of the world's most powerful media conglomerates, but Time Warner rebuffed its offer.

Time Warner's stock jumped nearly 20 percent on the New York Stock Exchange after news that Murdoch had his sights on Time Warner, the owner of the Warner Bros. movie studio and cable channels such as HBO and CNN, among other media properties.

The article goes on to state that CNN was planned to be sold off had Fox's bid been successful, in order to sate regulators.

So, how would this deal have affected the media landscape? How would Warner Bros, HBO, DC Comics, and other parts of the Time Warner empire have fared under 21st Century Fox? For instance, how would the Warner Bros film slate have panned out differently? Who would have been some likely buyers for CNN, and how would a new owner have affected the network's programming?

Going forward, how do the other media giants have reacted? 21st Century Fox certainly wouldn't get to a point where they contemplate selling off most of their outlets to Disney.
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