News Corp bids for Dow Jones

Media giant makes unsolicited $bn bid for publisher of The Wall Street Journal.

    Shares in Dow Jones rose by 50 per cent as news of the takeover bid broke [AFP]

    News Corp. shares fell more than 4 per cent however as analysts said more exposure to the slow-growing newspaper industry would weigh on company financials.
     
    Media empire
     
    Analysts and media reports speculated that News Corp.'s offer, while high, could prompt other bidders to emerge, such as Bloomberg, The Washington Post or The New York Times.
     
    Bloomberg said there was "no truth" to the speculation. The two newspaper publishers declined comment.
     
    Owning Dow Jones would give Rupert Murdoch, the majority shareholder in News Corps expensive, but powerful financial news clout backed by the venerable Wall Street Journal brand ahead of his planned fourth-quarter launch of a business news cable channel.
     
    Dow Jones could provide the new Fox Business Channel with a steady stream of real-time news from Dow Jones Newswires, a growing Internet presence, and analysis from Wall Street Journal and Barron's reporters.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Will you push the boundaries or play it safe?

    Will you push the boundaries or play it safe?

    Curate an art exhibition and survive Thailand's censorship crackdown in this interactive game.