21st Century Fox May Revise Bid for Time Warner After BSkyB Deal

Rupert Murdoch's 21st Century Fox said it will sell its Italian and German pay-TV businesses to British Sky Broadcasting Group for more than $9 billion. The move will give BSkyB a bolstered position in Europe, with 20 million customers. 21st Century Fox co-chief operating officer James Murdoch said the deal will be good for customers, as they will benefit from technological innovation. But it may also be good for Fox in its pursuit of Time Warner, as it's now expected to revise its previous $80 billion offer for the company. Wedbush analyst James Dix says that enhanced liquidity from the deal "would facilitate another bid for Time Warner, share repurchases, or both."