Rupert Murdoch Bids on Time Warner Cable

Headlines were made this week when Ruport Murdoch put in a massive $80 billion dollar offer to buy Time Warner Cable. Unfortunately for the media mogul, Time Warner has rebuffed his bid and has no plans to accept. According to the NY Times, Murdoch's play for Time Warner his attempt "to create a colossus in the television and film industries at a time when both face pressure from the growing power of cable companies like Comcast and online video giants like Google." Read the full story here.