As soon as Dow Jones confirmed an approach from News Corp., speculation sprang up in some corners that a takeover battle for the Wall Street Journal publisher was surely about to begin.
Paul Kedroksy, the Infectious Greed blogger who calls himself “an occasional commentator on CNBC”, said GE/NBC should bid aggressively for Dow Jones. “A new Fox biz network with integrated WSJ/DJ/Marketwatch will be an instant major media presence.”
“I would think that some senior people at CNBC … pleading with GE execs to make a run at Dow Jones,” The Big Picture speculates.
It’s about time, said Jim Cramer at thestreet.com, recalling how Murdoch asked him about the wisdom of a Dow Jones bid 10 years ago. “With Dow Jones, News Corp has a ready-made business team to give its business channel the talent and the data it needs.”
Media blogger Jim Romenesko carried the report from CNBC’s David Faber, posting that the surpise $60 a share offer could draw in newspaper groups Washington Post Co., the New York Times Co. as well as privately-held Bloomberg LP.
If concluded, the deal would give News Corp.’s Rupert Murdoch a lock on global financial news, Reuters Ken Li reports.
The offer fuelled some U.S. newspaper shares. The New York Times rose over 6 percent on the day. Murdoch’s offer means “New York Times Chairman Arthur Sulzberger, who has brushed aside shareholder critics, is probably on the phone with is bankers right now,” concludes Jonathan Barr in AOL’s bloggingstocks.
What’s your view of the News Corp move?
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12 comments so far
With an operating income of $100 million last year, News Corp will never get its money back on a $5 billion investment. But, if Murdoch wants to own it, no one is going to stop him. Not unlike the deal he did for the New York Post.
Douglas A. McIntyre
- Posted by douglas mcintyreNope, no thanks. Murdock is a menace of journalistic integrity..
- Posted by james wattDo you think journalism is dumbed down now? Wait until Newcorp owns more stuff. They will tell you what and how to think. Back in the USSR.
- Posted by HowardI certainly hope this doesn’t fly. The thought of the Journal and Fox News under the same roof doesn’t sit well.
- Posted by Michael EsquivelThis is very unfortunate, Rupert Murdoch is a staunch ally of President George Bush and neoconservatism in general. He has destroyed journalism and day by day he is telling more people what and how to think. No wonder freedom of speech is a phrase rarely spoken in the United Stattes in recent years.
- Posted by Panagiotis AngelopoulosHope that this doesn’t go through. Murdoch has single-handedly demolished the credibility of journalism, shamelessly aligned news reporting with clear political agendas more so than ever before. He has stooped lower than anyone every before. It would be sad day when and if this bid goes through.
- Posted by Omar FarooqI agree with number 5. I would have to add I wouldn’t like thought control no matter whom he supported. Control by the masses is just as unfortunate as control by the elite.
- Posted by HowardAt some point and time, people are going to realize that news is no longer tailored to let you make up your mind… the value of your opinions and values has been show time and time again to be 0 in today’s society… the same goes for business and competition… the value of competition is easily overshadowed when someone like Murdoch makes a bid that places the shareholders’ of Dow Jones and Co.’s greed above that of their interest in keeping the market real and open. This is a sad day indeed, but this sort of move no longer shocks me… dismays instead
- Posted by danielI think it is great Murdoch might buy Dow Jones. It is ironic that many see Fox News Channel is bad for the country. Why then does it have more viewers than CNN, CNBC and MSNBC combined. Are all those viewers brainwashed or what? It is apparent liberals can’t stand to have open and balanced debate of issues. It will be good to see the same for financial issues.
- Posted by Bob HicksRupert Murdoch and News Corp = Corporate and societal dictatorship!!!
- Posted by Bjorn.
To Bob, #9. I am not a liberal. I am not brainwashed. But, you are not being realistic to say that Fox News is fair and balanced any more than the other networks. They are all shills for the established order of things. They speak as one unified mindless voice. As Michael Savage is fond of saying, “They are all empty suits and skirts.”
When is the last time you saw any effort made at good, investigative reporting? (I thought so.)
- Posted by HowardWe should be against Murdoch, or anyone else, aggregating even more power of the press into one person or entity. We need more good strong independent news sources not less. WSJ has done a good job of reporting on nearly all issues for decades and should stay independent. They are often a good antidote for the often liberal filter/bias of the news reported by the New York Times, Washington Post etc.
- Posted by D'lin