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Friday, July 18, 2014

Murdoch says he cannot buy Tribune or LA Times, (NASDAQ: FOXA)

Twenty-First Century Fox cannot purchase publisher Tribune Co or its Los Angeles Times newspaper, Fox Chief Executive Rupert Murdoch wrote on Twitter on Friday, citing U.S. laws on media ownership. "Sorry can't buy Trib group or LA Times - cross-ownership laws from another age still in place," said tweets attributed to Murdoch.

Twenty-First Century Fox, Inc., formerly News Corporation, is a diversified global media and entertainment company with operations in cable network programming; television; filmed entertainment; direct broadcast satellite television, and other, corporate and eliminations. Shares of FOXA traded higher by 0.4% or $0.13/share to $32.90. In the past year, the shares have traded as low as $29.42 and as high as $36.43. On average, 13034500 shares of FOXA exchange hands on a given day and today's volume is recorded at 22459962.