Posted on 05/01/2007 9:04:07 AM PDT by Anti-Bubba182
NEW YORK (AP) - Shares of Dow Jones & Co., publisher of The Wall Street Journal, soared almost 60 percent on Tuesday after the financial news network CNBC reported that Rupert Murdoch's media company News Corp. offered to buy the company for $60 a share.
After opening at $37.12, the shares jumped $20.95. or 58 percent, to $57.28 before being halted on the New York Stock Exchange for news pending. They had traded in a 52-week range of $32.16 to $40.08 before Tuesday's news.
Spokesmen for Dow Jones and News Corp. did not immediately return calls seeking comment.
Dow Jones is controlled by the Bancroft family through a special class of shares and cannot be taken over without their consent.
Seems unusual that somebody can own a market. But, since the XIVth Amend anything is possible.
Hopefully he’ll get more balance on the news pages.
Can’t be worse than the Sulzbergers.
The Foxification of TWSJ cannot be a good thing....
Why would you say that?
And the New York Times building was just bought by an Israeli.... LOL
Murdoch could take it national and compete with USA Today for the business traveler crowd.
Very interesting.
But just imagine the page of fine print missing blonde co-ed statuses like the stock prices are now. (Who uses a newspaper for stock prices anyway?)
That so funny
MSN Media would go nuts if Murdoch buy WSJ LOL!
Murdoch has left a trail of destroyed newspapers around the world. The WSJ has been a realy great newspaper. Newcorp will put an end to that.
Just confirmed on Fox News.
Such as?
Hands off, Rupert! I like the New York Post, but one of those is enough.
Can you imaging having Fox news babes doing WSJ reports LOL!
I agree with you. WSJ is one of the few really solid newspapers left around. Frankly, if it ain’t broke, don’t fix it.
What makes you think Murdoch will change it that much as long as the circulation figures are good?
I see him going for some kind of strategic tie-in with the new Fox Financial Network.
It is national even international already. The USA today doesn't really sell many copies. It is mostly purchased in bulk and given out free at hotels and airports. It would be nice if the WSJ had a traveling subscription so it would be possible for a subscriber to pick up a copy anywhere in the world with no addtional charges.
One of the worst thngs about traveling is USA Today in your hotel room and CNN on all the monitors at the airport.
I agree!
Some of the better hotels offer the WSJ in the morning, but they are few and far between.
Hell, some hotels do not even offer FoxNews in the rooms!
We need a conservative, business-friendly hotel chain, airline and restaurants.
The Times (London) was one of the highest quality newspapers and very authoritive until Murdoch got his hands on it. He has a reputation for turning respected newspapers into tabloids.
The Times (London) was one of the highest quality newspapers and very authoritive until Murdoch got his hands on it. He has a reputation for turning respected newspapers into tabloids.
Murdoch has a very simple formula. He acquires high-quality newspapers with relatively low circulation and repositions them to market to the lowest common denomonator with lots of trashy Hollywood stories and sensationalism. After the takeover of the WSJ, you probably be able to read where the stars invest their money and who got the best returns last year.
The WSJ’s subscriptions are up 4% this last quarter, whereas, the NYSlimes was down 3% to 4% during the same time period. People are getting tired of the same old sh*t different day stories. Ya’ll should check out the op-ed section of the WSJ, written by conservatives. Good stuff.
When I read this story I had mixed emotions. I have read the WSJ for years. I am in my seventies and retired and still subscribe to the paper. Its editorial pages are generally on the conservative side except for immigration. In reality it is pro business. The articles written by the reporters are probably a little left of center but pretty objective and well done. Murdock buying the paper would be better than some rich liberal buying it. I am happy with the paper the way it is now, but I guess Murdoch would be OK. I think they will have to keep the editorial pages the way they are now because the readership tends to be right of center.
I bet they don't change that if Murdoch gets it.
the reason they are at hotels is because guests want them.
The reason USA Today is in hotel rooms and not WSJ is because that is what the guests prefer. Hotels that have offered only WSJ get complaints.
I’ve been to Hotels where they will stuff USA Today under your door, but you can go to the desk and get a WSJ.
Really I’d prefer if most Hotels would just leave me a copy of the local newspaper so I could see what is going on in the area as far as entertainment, restaurants, shopping venues, etc, especially if I’m on vacation
I have always thought USA Today is worse than no paper at all! It goes straight into the trash.
If it's gonna an all-crime all-the-time like Fox tends to be. it would be bad. When Fox started a second re-ren (a re-re-run?) of Bill O'Riledup and Sean's Bumper Sticker show and dumped any re-reuns of Brit or Cavuto, I pretty much quit on FoxTV. And Silly Shep, boy newsman, is just too much.
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