Murdoch’s Time Warner Grab Puts M&A Regulators on Notice

Rupert Murdoch, already a polarizing media baron, is picking a new fight, this time in Washington.

Murdoch’s $75 billion proposal to acquire Time Warner Inc. would give his 21st Century Fox Inc. control over a vast swath of what consumers see on TV, from HBO’s bloody “Game of Thrones” to America’s top-rated comedy, “The Big Bang Theory.” Fox-owned networks would account for 20 percent of the $85-a-month average U.S. cable bill, about double the current amount, according to Bloomberg Industries estimates.