Categories: OLD Media Moves

Dow Jones deal clears hurdle

Dow Jones & Co., the owner of The Wall Street Journal, Barron’s and Marketwatch, announced Tuesday evening that its acquisition by News Corp. has cleared a major regulatory hurdle.

Its release stated, “Dow Jones & Company and News Corporation announced today that the Premerger Notification Office of the Federal Trade Commission granted early termination on August 28, 2007 of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) in connection with News Corporation’s proposed acquisition of Dow Jones. Termination of the HSR Act waiting period satisfies one of the conditions to the closing of the transaction, which was previously announced on August 1, 2007.

“The merger, which is expected to close in the fourth calendar quarter, remains subject to approval by Dow Jones stockholders, execution and delivery by the parties of the editorial agreement, certain other regulatory approvals and other customary closing conditions.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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John R says:
August 30, 2007 at 4:51 pm
Another step closer to the most talked about merger of 2007. Hopefully it goes off without any hitch and see whether Murdoch baiters are right or its just a pure business sense by him.