Categories: OLD Media Moves

What Murdoch would gain from Yahoo: More business news clout

Abbey Klaassen of Advertising Age writes Monday that the proposed deal between News Corp. and Yahoo would give CEO Rupert Murdoch even more power in the business news category.

Klaassen wrote, “Just a few months after he closed the deal on his quest for the much-coveted Dow Jones Co., the famously ambitious Australian is looking to link up with the most-trafficked online-news site, Yahoo Finance, through a deal that would give his News Corp. a 20% stake in Yahoo.

“His influence over business news would easily span a trifecta of powerful media. What’s more, his audience would cover everyone from high-end business professionals who start every day with the Journal to more casual business audiences who surf over to Yahoo Finance after checking their e-mail.

“Yahoo Finance reaches almost 19 million monthly unique visitors — and its growth totaled 81% over the past year, according to ComScore. It accounts for almost a quarter of all news and finance-related online-display advertising — more than Forbes.com, CNN Money, TheStreet.com and Reuters combined.”

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.