Even if you aren’t one of those people worried about media consolidation — there are many in that number — the big bolt of lightning last week that pierced a summer of ennui in entertainment and publishing news was hard to resist.

The unrequited bid that Rupert Murdoch’s 21st Century Fox made for Time Warner Inc. had it all: defensive consolidations taking shape in both distribution and content production; two like-size media behemoths in an awkward, high-stakes dance; secret meetings; board intrigue; and a naked grab for size and power. Plus, there was the gift that keeps on giving: Mr. Murdoch on the prowl.

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