Rupert Murdoch owns everything, but he can’t have CNN.
CBS Corp Chief Executive Officer Leslie Moonves said last week his company would take a look at cable news network CNN if it goes up for sale, Reuters reported.
CNN is owned by Time Warner, Inc.
Moonves was asked by reporters at a Television Critics Association meeting if he would buy CNN, should Fox decides to sell the channel. Fox, with its own news channel, would have to unload CNN in order to get over regulatory issues in its anticipated merger with Time Warner.
At which point Rupert Murdoch would own everything, except CNN.
So far, Time Warner rejected an $80 billion offer from Fox to become one. Last Wednesday, Time Warner said the bid, valued at $85 a share, was not in “the best interests of shareholders and carried strategic, operational and regulatory risks, ” according to a report in the New York Post.
Which is owned by Rupert Murdoch.
“We’ve always talked about doing things with CNN, ” Moonves answered the reporters. “We’ll see. It’s something I’m sure we will look at if that becomes available.”
According to Denise Majette in Daily Digest News, people in the know about the Fox offer to Time Warner say Mr. Murdoch is not likely to walk away from the deal, and has a track record of pursuing companies that initially say no but later give in.
The Wall Street Journal was one such acquisition that was made with sheer Murdoch tenacity. The owners really didn’t want to give it to him. Same with the London Times. Same with everything, really.