It's worth remembering that Time Warner is much smaller than it used to be – it has sold off or spun off AOL, Warner Music, Warner Books, TWC, and even Time Inc. in the past few yesrs.

Even then, the size and scope of a combined Fox / Time Warner in the movie/TV market alone would be ludicrous. Even if Fox sold off CNN as they're proposing, they'd own two of the six major movie studios, the Fox broadcast network, HBO, many of the top-rated cable channels (Fox News, FX, TBS, TNT, Cartoon Network / Adult Swim), and plenty of other stuff, and that's just in the U.S.

And of course, Murdoch also still controls the nominally-separate (newspapers-only) "new" News Corp, which is said to be stalking the Tribune group (Chicago Tribune, LA Times, etc.): http://www.poynter.org/latest-news/business-news/the-biz-blo...

Wait, I thought Time Warner was already purchased by Comcast. See: http://money.cnn.com/2014/02/13/technology/comcast-time-warn...

Time Warner Cable was spun off from Time Warner in 2009. What happens with one does not affect the other in any way.

Comcast is trying (still has to pass regulators but it's probably a done deal) to buy Time Warner Cable, not all of Time Warner's holdings.

"Time Warner's share price jumped some 16.35% higher in the first 20 minutes of trade on the New Stock Exchange to $82.62 per share." Bwahaha. Does this show how happy investors are that TW rejected the offer? :-)

I wonder how much of the 16% jump in Time Warner's stock is the willingness of Time Warner to sell CNN.