Whew! Rupert Murdoch yanks bid for Time Warner, Sprint won’t pursue T-Mobile
Two massive, anticompetitive, and harmful merger proposals that have been recently in the news are now off the table, the New York Times reports. Rupert Murdoch has withdrawn an offer by 21st Century Fox to acquire Time Warner (which was met with a frosty reception) and Sprint has decided not to pursue an acquisition of T-Mobile after concluding that the federal government would not consent to the merger. The failure of the megadeals is good news for American consumers.