1. Tuesday night, 21st Century Fox (Nasdaq: FOXA) announced that it has withdrawn its proposal to acquire Time Warner Inc. (NYSE: TWX). The deal was valued at about $85 per share, or $80 billion, in a mix of cash and stock. Along with the announcement, Fox approved a new $6 billion common stock buyback plan. Additionally, Fox Chairman and CEO, Rupert Murdoch, commented, We viewed a combination with Time Warner as a unique opportunity to bring together two great companies, each with celebrated content and brands. Our proposal had significant strategic merit and
