• 31 Jul 2007 at 2:04 PM
  • Dow

NewsCorp-Dow Jones Deal Imminent

By Dealbreaker

Rupert Murdoch New York Times Wall Street Journal.jpgIt’s finally pretty much almost over. Rupert Murdoch has secured enough Bancroft family shareholder votes to move forward with his $60-a-share, $5bn bid, one future News Corp holding reports.
One day after a Murdoch spokesperson said the deal was “highly unlikely,” the Denver branch of the Bancroft family, previously holding out for a higher offer, capitulated, giving News Corp at least 32% of the family vote. Nonetheless, one Bancroft family spokesperson said today, “Any suggestion that the process has been completed and/or that a particular level of support has been established is at this point premature.”
Both companies have board meetings this evening to formulate the take-over procedure. Dow Jones is trading up 7.04% to $57.50 today.
News Corp. Appears to Have Enough Votes to Clinch Deal [Wall Street Journal]
Murdoch Seen to Win Control of Dow Jones [NY Times]

Comments (5)

  1. 1
    Posted by Fake Rush Limbaugh | July 31, 2007 at 2:19 PM

    Does this mean that in the future the Journal will start accepting editorial applications from well known drug abusers?
    Can’t hear you. Speak up.

  2. 2
    Posted by j | July 31, 2007 at 2:29 PM

    How much time until Murdoch bids for the New York times?

  3. 3
    Posted by SDH | July 31, 2007 at 2:34 PM

    A LOVELY DAY IN MEDIA, ESPECIALLY FOR RUPERT MURDOCH. NOW IF ONLY SUMNER REDSTONE WOULD FUCK OFF.

  4. 4
    Posted by j | July 31, 2007 at 2:36 PM

    How much time until Murdoch bids for the New York times?

  5. 5
    Posted by inIT4the$ | July 31, 2007 at 3:39 PM

    ol’ Rupert oughta just go ahead and buy all the newspapers in NYC, Jared Kushner be damned!

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