Rupert Murdoch's News Corp has been trying to buy Time Warner. The first offer was rejected, but he's supposedly going to come back with a sweeter offer, according to this morning's trade publications. Obviously this is a terrible idea. The last thing anyone wants (other than two or three guys that will get rich) is one guy controlling an even bigger chunk of the media. Especially that guy.
But even if he succeeds, there is one part of Time Warner that he will definitely NOT be allowed to own. That's CNN. There's no way the FCC would allow that, and neither would Congress.
So can you guess what CNN is worth if he forced to sell it? Would you believe $5 billion?
That's what this Reuters article claims.
