The top 10 things you won't read about Dow Jones deal
TheStreet.com’s Jim Cramer writes Wednesday about the 10 things that The Wall Street Journal won’t be writing about when it comes to its parent company, Dow Jones & Co., and whether it will be sold to News Corp. CEO Rupert Murdoch or someone else.
1. The company gets the takeover bid and the senior officers sit on the bid and disclose it to no one as the stock goes up, making it likely that there will be trading on inside information. That’s why the law wants timely dispersal of material information. Can you imagine the field day the Journal would have with that?
2. There’s an incredible amount of call-buying after the receipt of the bid — but before it is announced as a scoop, no less. Who knows how long the company in question would have sat on it?
3. The board turns out to be a total nonentity and doesn’t even take a position on the bid. Can you imagine what the Journal’s reporters and editors would do with that?
4. The controlling shareholder family’s spokespeople, before the bid is even cold, say the word is “no.” Without even polling the family? Can you get more duplicitous? The polling turns out to be wrong.
Read the rest of them here.