Leon Lazaroff and Cecile Daurat of Bloomberg News write that News Corp.’s $5 billion offer to acquire Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and Marketwatch, will spur an auction of the company, according to some of its shareholders.
They wrote, “‘We’re in the first inning,’ said Lawrence J. Haverty Jr., associate portfolio manager at Gamco Investors Inc. in Rye, New York. Gamco had 825,000 Dow Jones shares as of December. ‘Dow Jones is a fish in the pond, and there are sharks swimming around.’
“Murdoch’s News Corp. yesterday offered $60 a share for Dow Jones, owner of the Wall Street Journal, Barron’s and Dow Jones Newswires. The bid, 65 percent above the previous day’s close, was rejected by Bancroft family members who control more than 50 percent of the voting power at the New York-based publisher.
“News Corp. may have opened the door for other bidders, including General Electric Co., owner of the CNBC news network, Haverty said. Washington Post Co., Gannett Co. and even Google Inc. may be interested, said Michael Chren, managing director of Allegiant Asset Management Co. in Palm Beach Gardens, Florida.”
Read more here.
Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…
Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…
The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…
CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…
Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…
Members of the CoinDesk editorial team have sent a letter to the CEO of its…