Event:
Time Warner, Inc. may be offered $75 billion by Twenty-First Century Fox in a proposed merger deal that would create the world's largest media company; Time Warner rejected an earlier proposal by Fox
More Notable Events on July 16:
1994 Comet Shoemaker-Levy collides with Jupiter
1980 Ronald Reagan nominated for President by Republicans in Detroit
1926 National Geographic takes 1st natural-color undersea photos
1920 China joins the League of Nations
1790 Congress establishes District of Columbia
