David von Drehle of Time writes Monday that Dow Jones & Co., the parent of The Wall Street Journal, deserves to be sold to News Corp. CEO Rupert Murdoch.
“Wall Street’s judgment on Dow Jones ownership is pitiless. Investors in Murdoch’s News Corporation hardly batted an eye when the old man bid $60 a share for a company that has been south of $40 a share for years. That enormous premium is the financial community’s rough measure of the value of new management.
“The litany of Dow Jones stumbles and fumbles is well-known. As the hands-off Bancrofts watched from a distance, the company failed to move nimbly into the digital age. A single able entrepreneur, Michael Bloomberg, captured the desktop financial analysis business as Dow Jones dawdled. Meanwhile, a newspaper with huge circulation (over two million) and a relatively small staff (half the size of the Los Angeles Times) for some reason lagged the industry in profitability.”
Read more here.
Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…
Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…
In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…
Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…
Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…
Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…