Word: murdochs
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Dates: during 2000-2009
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...RUPERT MURDOCH, when asked what would happen to the Wall Street Journal if he were to take over Dow Jones...
...have surely heard, the three dozen cousins who have a hand in voting the shares inherited from Jessie Barron face a momentous decision. Rupert Murdoch's News Corp. has offered to buy them out at a staggeringly high price--$60 a share, or 75% higher than the market was valuing Dow Jones before the offer. The Bancrofts' initial answer was no, but there is disagreement within the family. If Murdoch ups his bid, anything could happen--and the current betting on Wall Street is that something will...
...media titan Rupert Murdoch to buy Dow Jones & Co., publisher of the Wall Street Journal, is big news on numerous fronts. There's the money, of course. He is offering $5 billion for a company whose shares fetched just $3 billion before word of his bid leaked out on May 1. Also important is the signal that he's very serious about his Fox Business Channel, which is due to launch later this year and would get a big boost from the Journal--and Dow Jones--brand...
...Only a month ago, investor Sam Zell acquired effective control of the Tribune company - owner of such venerable papers as the Los Angeles Times and the Chicago Tribune - for not much more than the value of the company's landmark headquarters. After that debacle, Murdoch's cash-on-the-barrel offer of roughly $25 above the Dow Jones share price seemed to spell the end of a nightmare...
...several reasons, this deal may be one of a kind. First, there is the perfect fit of the Journal and Dow Jones brands into the next big venture for Murdoch's News Corp. Having built Fox News into a 24-hour cable news giant, Murdoch is moving into the business news sector, challenging CNBC. The content, expertise and reputation of the Dow Jones properties - including Barron's and the various global Wall Street Journal editions - give him instant muscle for that fight...