Rupert Murdoch, owner of 21st Century Fox, wants Time Warner.

The tycoon tried to woo the company with $80 billion, but was rejected. So Murdoch sold Sky Italia and Sky Deutschland to BSkyB for $8.3 billion (USD).

The move may have put Murdoch in a better position to buy while keeping the stations close to the Fox family — Fox owns 39 percent of BSkyB. The deal also bolster’s the European Skys network, which will now serve 20 million people throughout the U.K. and Ireland, and now Italy and Germany.

Time Warner is the fourth largest media company in the world while 21st Century Fox is the third largest. Comcast — the largest media conglomerate on the planet which owns NBC and Universal — is currently waiting for approval of its merger with subscription-television-provider, Time Warner Cable, which spun off from Time Warner five years ago.

If the two mega-mergers go through, they would each combine two of the top five media conglomerates in the world, lumping the U.S.'s largest cable providers together as well as two 24-hour news stations, CNN and Fox.

[node:field_slideshow]