The Associated Press is reporting that News Corp. CEO Rupert Murdoch is becoming frustrating with the lack of progress in talks to acquire Dow Jones & Co., the parent of The Wall Street Journal.
The AP story stated, “Murdoch has offered $5 billion (€3.64 billion) for the company but has been entangled for several weeks in negotiations with the Bancroft family, which controls Dow Jones, largely over their concerns about safeguards for the Journal’s editorial independence and integrity.
“‘They keep changing their minds,’ Murdoch told The Associated Press in Sun Valley, Idaho, during a conference of top media executives hosted by investment banker Herbert Allen. Murdoch is a regular guest at the conference, which has become a landmark event for media power players since the early 1980s.
“Murdoch didn’t elaborate on the state of play with Dow Jones, and declined to comment on a recent approach made to Dow Jones by Brad Greenspan, an Internet entrepreneur who was an early investor in MySpace, a social networking site now owned by Murdoch’s company, News Corp.”
Read more here.
Megan Douglass has been named deputy social strategy editor at The Wall Street Journal. Douglass previously…
Business Insider's Louise Ridley is joining The Female Lead, the women's empowerment charity founded by Tesco Clubcard entrepreneur Edwina…
Aruna Viswanatha has been promoted to Washington enterprise editor. She will report to Damian Paletta.…
Bowdeya Tweh has been promoted to Chicago bureau chief at the Wall Street Journal, reporting…
Fierce Healthcare has promoted Heather Landi to executive editor. She has been a senior editor.…
Business news site Quartz has hired Audrey McNamara as breaking news editor. In her role,…