If Fox is successful in buying Time Warner, Rupert Murdoch will likely sell CNN, which CBS is eyeing. Industry watchers, however, say analysts are undervaluing the news network, which is very profitable despite ratings woes.
Although Time Warner is known for its cable networks and its Warner Bros. movie and television units, it also owns one broadcast station — WPCH-TV Atlanta. Should 21st Century Fox succeed in its effort to acquire Time Warner, the FCC would presumably have to sign off on the license transfer of the station even if 21st Century Fox ultimately decided to sell it.
TWC-Fox Deal Changes Retrans
Retransmission consent negotiations may never be the same. A deal struck last January between Time Warner Cable and News Corp. included a precedent-setting condition to allow TWC to carry Fox’s network programming if retransmission negotiations with Fox affiliates break down. Many TV execs likened Fox’s move to throwing its non-owned Fox affiliates under the bus.
