NEW YORK: Rupert Murdoch's Twenty-First Century Fox decided to pull its US$80bil offer to buy Time Warner Inc on Tuesday, abandoning plans to create one of the world's largest media conglomerates.
Murdoch also cited Fox's share price – down about 11% since the offer was unveiled on July 16 – saying it had become undervalued, making the deal "unattractive to Fox shareholders."
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