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21st Century Fox abandons pursuit of Time Warner

By Michael Liedtke
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21st Century Fox abandons pursuit of Time Warner

Rupert Murdoch’s 21st Century Fox is abandoning its attempt to take over Time Warner in a proposed deal that would have combined two of the world’s biggest media companies.

The about-face announced Tuesday comes three weeks after Time Warner Inc. revealed that it had rejected 21st Century Fox’s unsolicited $76 billion buyout offer.

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