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5/1/2007

News Corp Bids For Dow Jones

Filed under: — 6:27 pm

Rupert Murdoch’s News Corp. has made a $5 billion unsolicited bid for Dow Jones. Dow Jones, which publishes The Wall Street Journal and has the Dow Jones Newswires and MarketWatch news properties, is said to be examining the offer. Down Jones cannot be taken over without the Bancroft family’s consent and they have owned the company since 1902.

Murdoch has apparently had his eyes set on the Journal for a while, and he is planning to start a cable news channel to compete with CNBC. “Murdoch has said the channel’s programming will be generally more favorable to companies and executives than CNBC’s” so that could mean less objectivity.

Source: BusinessWeek

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