5/30/07

Murdoch and Dow Jones: will this thing die already

I had been hoping that the headlines Murdoch's effort's to buy Dow Jones would have been dead by now , but the media tycoon is still active. From today's Financial Times:

"The largest outside shareholder in Dow Jones has called on the Bancroft family to sell its controlling stake to Rupert Murdoch’s News Corp, saying the family had no plan in place to lift the company’s share price to the level offered by News Corp."

Slate is also staying on this issue.

UPDATE:Editor and Publisher reports


Last night's news that the Bancrofts were willing to meet with Murdoch after his repeated pleas in addition to the statement the company planned to explore strategic options gives Murdoch an advantage.

"I think a deal will get done," said Alexia Quadrani, an analyst with Bear Stearns. "It's too rich of an offer and the industry is just too challenged right now.