Categories: OLD Media Moves

Negotiations complete; Murdoch has a deal

Stephen Brook of The Guardian newspaper in London is reporting that negotiations between Dow Jones & Co., the parent of The Wall Street Journal, and News Corp. are complete, and it appears that Rupert Murdoch will be successful in acquiring the company if the Bancroft family that controls Dow Jones approves the deal.

Brook wrote, “Rupert Murdoch has succeeded with his $5bn (Â£2.5bn) bid for Dow Jones, owner of the Wall Street Journal, the Business magazine reported on its website today.

“News Corporation has completed negotiations with the Dow Jones board, which is confident that the controlling Bancroft family will accept the deal, a story on the magazine’s website said, quoting sources acting for the Wall Street Journal owner’s board.

“The story was written by Andrew Neil, a former Murdoch lieutenant and now chief executive of the Press Holdings, which owns the Business, and by James Forsyth.”

Read more here. The Business magazine article can be found 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.