Dow Jones

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Dow Makes Last-Ditch Play for New Offer

Board goes after alternatives to Murdoch sale

(Newser) - As Rupert Murdoch tries to finalize a deal to take control of Dow Jones, the company is making a last effort to find an alternate buyer, pushed by a holdout director, Leslie Hill, who's a member of the controlling Bancroft family. The Wall Street Journal reports that among those being...

Murdoch May Have Dow Jones
Murdoch May Have Dow Jones
Jul 6, 2007 12:13 PM CDT

Murdoch May Have Dow Jones

British mag reports talks are over; Journal publisher denies

(Newser) - Rupert Murdoch has succeeded in his bid to take over Dow Jones, according to a report in a British financial magazine. The Wall Street Journal publisher is denying the report, although The Business cites inside sources who say the $5 billion deal will be formally announced next week.

Deals Excite Nervous Markets
Deals Excite Nervous Markets
Jul 2, 2007 8:06 PM CDT

Deals Excite Nervous Markets

Dow up 126.81; private-equity boom not over yet; oil has highest close since August

(Newser) - The Dow rose 126.81 points to 13535.43 today, as several big deals assuaged traders worried the recent LBO spate is coming to an end. Chief among them, the Journal's Market Watch reports, was a $32.6B buyout of BCE, Canada's largest telecom, by a consortium including two US...

Stock Sell-Off Rings Out 2nd Quarter

Markets dip, inflation cools, oil prices soar as Fed plays wait-and-see

(Newser) - Stocks slipped slightly today as the tumultuous second quarter ended in a cloud of uncertainty and contradictory economic reports. The Dow fell 13.66 to close at 13,408.62, up over 1,000 points since April, after an early surge in response to optimistic inflation and construction-spending reports. But...

Panel to Shield Journal Editors
Panel to Shield Journal Editors
Jun 29, 2007 5:38 AM CDT

Panel to Shield Journal Editors

In latest deal, hybrid board would hire and fire key staffers

(Newser) - A watchdog committee, not would-be owner Rupert Murdoch, would hire and fire editors under a tentative pact to protect the editorial independence of the Wall Street Journal,  a source familiar with details of the deal tells MarketWatch. Members of the panel would be chosen by Murdoch's News Corp., Dow...

Journal Employees Stage Anti-Murdoch Protest

Union action relates to pending deal, labor talks

(Newser) - Wall Street Journal employees around the country were intentionally late for work today in a job action to protest News Corp.'s impending purchase of Dow Jones. The union representing reporters coordinated the demonstration, Forbes reports, to give a collective thumbs-down to Rupert Murdoch and to protest recent developments in...

Murdoch Says $5B Is Final Offer for Dow Jones

Mogul won't raise offer to push stalling Bancroft family

(Newser) - Rupert Murdoch won't raise his $5B bid for Dow Jones, the media mogul said today. Murdoch deflected speculation that he would up the ante to move along negotiations with the openly skeptical Bancroft family, which owns a majority stake in the Journal publisher. Instead, Reuters reports, Murdoch is suggesting he...

Murdoch Bid Clears High Hurdle
Murdoch Bid Clears High Hurdle
Jun 26, 2007 2:30 PM CDT

Murdoch Bid Clears High Hurdle

News Corp., Dow Jones make a deal on editorial policy

(Newser) - A plan to safeguard the Wall Street Journal's editorial independence awaits the approval of the Bancroft family now that Dow Jones and News Corp. have "basically agreed" on an arrangement, a source tells Reuters. The Bancrofts still must approve the deal, which also applies to Dow Jones Newswires and...

Murdoch Kowtows to China
Murdoch Kowtows to China
Jun 26, 2007 8:45 AM CDT

Murdoch Kowtows to China

Business and political interests raise issues for publisher's media

(Newser) - Rupert Murdoch's imperial ambitions in China have been marked by relentless cozying to its communist regime—motivated by equal parts opportunism and sinophilia—the Times reports. Murdoch's China outlets have toed the party line energetically, and the mogul, whose wife is a high-powered mainlander, has even personally lashed the Dalai...

Mogul's Interest In Journal Is No Passing Fancy

Groundwork for Murdoch's Dow Jones bid dates back decades

(Newser) - Rupert Murdoch's bid for Dow Jones may have seemed to come out of nowhere, but the Australian media mogul has had his eye on the Wall Street Journal for years. In three decades in the States, Murdoch has made his mark in news, entertainment, and, of course, politics. The Times ...

Murdoch Close on Journal Deal
Murdoch Close on Journal Deal
Jun 25, 2007 4:54 AM CDT

Murdoch Close on Journal Deal

Five directors would police editorial independence

(Newser) - Rupert Murdoch appears close to a deal that could pave the way for his takeover of Dow Jones' Wall Street Journal—a coup that seemed out of the question weeks ago, the New York Times reports. The deal is designed to safeguard the newspaper's editorial independence from Murdoch, who has...

Mortgage Worries Drive Markets Down
Mortgage Worries Drive Markets Down
Jun 22, 2007 4:45 PM CDT

Mortgage Worries Drive Markets Down

Exchanges sink on subprime woes; Blackstone jumps in debut

(Newser) - The major exchanges plummeted today, wrapping up a week of seesawing during which the Dow and the S&P 500 lost about 2% and the Nasdaq fell 1.4%. Even Bear Stearns' announcement that it will bail out a hedge fund entangled in subprime loans couldn't stop the bleeding. The...

GE, Pearson Bail on Bid for Dow Jones

CNBC, Financial Times parent companies back away, clearing path for Murdoch

(Newser) - General Electric and Pearson may yet work out an arrangement that takes advantage of their business-media assets, but their plans don't involve Dow Jones. The companies said today they won't pursue a deal with the Wall Street Journal publisher, brightening the outlook for News Corp.'s $5 billion offer, Pearson's...

Dow Jones Board Seizes Control
Dow Jones Board Seizes Control
Jun 20, 2007 4:48 PM CDT

Dow Jones Board Seizes Control

(Newser) - After more than a month of dithering by the Bancroft family, the Dow Jones board will take over negotiations with News Corp., greasing the skids for Rupert Murdoch's effort to acquire the company. With a $5 billion bid on the table, the board decided to "take the lead in...

Dow Jones Scenarios Multiply
Dow Jones Scenarios Multiply
Jun 18, 2007 8:35 AM CDT

Dow Jones Scenarios Multiply

Companies may join forces to counter Murdoch bid

(Newser) - Members of the Bancroft family would retain a stake in Dow Jones after selling a majority interest to GE and Pearson if one possible arrangement plays out, media outlets owned by the players are reporting. The Wall Street Journal outlines a venture incorporating Dow Jones, Pearson's Financial Times, and GE's...

Another Player Joins Competition for Dow Jones

Pearson searches for partner to help launch bid

(Newser) - Another would-be Dow Jones suitor emerged this afternoon: Pearson, which publishes the Financial Times. In a media-company-news hall of mirrors, the Wall Street Journal reports that Pearson is searching for partners in its "longshot" bid and has approached Hearst and GE; the FT reports that its parent company has...

Dow Falls as Bond Yields Soar
Dow Falls as Bond Yields Soar
Jun 13, 2007 7:13 AM CDT

Dow Falls as Bond Yields Soar

Record high yields threaten higher mortgage rates

(Newser) - US bond yields have hit a five year high—bringing the threat of higher interest rates, costlier home mortgages and a slowing economy, the Wall Street Journal reports. The benchmark 10-year Treasury note rose to 5.25 per cent yesterday. Rising bond yields echo throughout the economy, making stocks less...

Union Seeks Journal Savior
Union Seeks Journal Savior
Jun 5, 2007 4:48 PM CDT

Union Seeks Journal Savior

Burkle agrees to talks with Dow Jones employees

(Newser) - The Wall Street Journal employees' union, in search of a white knight as Dow Jones and Rupert Murdoch appear to be moving closer to a deal, has enlisted the help of supermarket billionaire Ron Burkle. News Corp. has offered $60 a share for the company, and one analyst tells Bloomberg,...

Dow Closes Down 80.86 on Inflation Scare

Bernanke comment, retail profit warnings contribute to slump

(Newser) - The Dow fell 80.86 points today, closing at 13,595.46 after companies in the retail sector issued warnings of reduced profits and Fed chairman Ben Bernanke commented that inflation risks are still high. "There are a lot of little things out there that are scaring the market,...

Murdoch Says He's Flexible, Up to a Point

Jousting over editorial independence may derail Dow Jones deal

(Newser) - Rupert Murdoch has renewed his vow to maintain the Wall Street Journal's editorial independence should his bid for Dow Jones succeed, but it's unlikely he'll allow the controlling Bancroft family to run an editorial oversight board. That sticking point could be a deal-breaker, the Journal reported hours before today's scheduled...

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