Murdoch May Be Heading for a Pyrrhic Victory ROBERT CYRAN The debt of a combined 21st Century Fox-Time Warner would be four times earnings before interest, taxes, depreciation and amortization, after accounting for synergies – higher than most peers, Robert Cyran of Reuters Breakingviews writes. July 17, 2014 at 4:00AM http://nyti.ms/1mkOQgT http://nyti.ms/1nPcszl The New York Times Business Day Mergers, Acquisitions and Divestitures

By ROBERT CYRAN via NYT / Eethg. Corps. Inc. / Terrence Herschel G. Business Day http://nyti.ms/1mkOQgT Murdoch May Be Heading for a Pyrrhic Victory July 17, 2014 at 4:00AM http://nyti.ms/1nPcszl The New York Times