Rupert Backs Off on Pursuit of Time Warner

That's the report in this morning's New York Times. Although this little portion of the article set off red flags in my head...

Tuesday, the chief executive of Time Warner Inc., Jeffrey L. Bewkes, received an unexpected email.

“On behalf of our board and senior management team, I am writing to inform you that we are withdrawing our offer to acquire Time Warner, effective immediately.

Sincerely, Rupert Murdoch.”

A hand-delivered letter bearing the same message arrived soon after.

Hmmmm. This has a Lucy/Charlie Brown football sort of feel to it, doesn't it?

The only thing that makes me believe it's real is that Newscorp stock has gone down since Rupert announced his pursuit. That's literally the only thing that can get his attention.

But if I was Jeffrey L. Bewkes, I would hire guards to watch to my back.

(Photo: Rupert Murdoch)