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

Twenty-First Century Fox denies report it held takeover talks with Discovery
February 23, 2015
SYDNEY (Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc held preliminary takeover talks with Discovery Communications Inc 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 rumors." 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. Discovery declined to comment on the report.