Wednesday 1 August 2007

Murdoch wins fight for Dow Jones

Great, so Murdoch owns yet another slice of the media. Am I the only one who thinks that is a bad idea? He says he's going to maintain journalistic integrity but do I believe that? I don't think so!

Turner and Murdoch Media tycoon Rupert Murdoch has won his battle to buy US media giant Dow Jones, publisher of the Wall Street Journal.

His News Corporation firm has secured the deal for $5.6bn (£2.7bn), or $60 a share - a 65% premium to Dow's share price before the bid was announced.

The agreement comes after Mr Murdoch received the required level of support from the Bancroft family, who hold the majority of Dow Jones' shares.

It ends the Bancrofts' 100-year stewardship of the Dow Jones.

Full story...