Rupert Murdoch’s bid for Dow Jones, once a sure thing, then “too close to call,” is now “highly unlikely” unless the Bancroft family increases its support of the deal by 5 p.m. today, the Wall Street Journal reports.
At the moment, 28% of Dow Jones’ voting power supports the deal, although it is unclear what percentage of Bancrofts voted affirmatively; 30% of the family needs to support Murdoch for his $5bn bid to go through. If this is not met, “News Corp likely wouldn’t take the deal to a full Dow Jones shareholder vote.”
After all the mud-slinging and Rupe’s cryptic commentary, this summer’s saga could come to a close tonight, in which case I will have no idea what to write about.
News Corp. Says It's 'Highly Unlikely' To Buy Dow Jones at Current Count [Wall Street Journal]
Posted by , Jul 30, 2007 2:54PM
It Rupert does get this one I'll be disappointed. The WSJ is one of the final remaining newspapers with a backbone and integrity to it's news pieces. I'd hate to see that go up in flames.
Posted by SDH , Jul 30, 2007 3:49PM
Is that like the default opinion of everyone who doesn't want News Corp to buy Dow Jones? Why in the world would a smart businessman like Rupert Murdoch fuck up the WSJ with tabloid-esque headlines and stories? Please. The Journal would probably do even better under News Corp. People can't just look at what he does with a tabloid like The New York Post and automatically thinks he will do the same with a paper like the WSJ. Your default reasoning is premature and well cliché. Those Bancroft’s will never get another offer like the offer Rupert put on the table for them. They really wouldn't give a shit what happened to the WSJ if the offer was higher. Money talks and .........well you know the rest.
Posted by Anonymous , Jul 30, 2007 3:58PM
"Why in the world would a smart businessman like Rupert Murdoch fuck up the WSJ with tabloid-esque headlines and stories?"
News Corp has a history of destroying the journalistic integrity of its acquisitions.
Posted by SDH , Jul 30, 2007 4:11PM
"News Corp has a history of destroying the journalistic integrity of its acquisitions?"
Yet another default/cliché opinion. The Bancrofts will regret not doing this deal. I bet if Rupe said OK $65 per share they would all shout in unison "SOLD"
Posted by jt , Jul 30, 2007 4:17PM
i put the odds at no higher than 30% that this debacle ends 2nite.
These bancrofts are as indecisive a bunch as they come
Posted by SDH , Jul 30, 2007 4:29PM
Yeah it looks that way.
Posted by anonymous , Jul 30, 2007 10:38PM
FOX NEWS: "FAIR AND BALANCED."