Has Murdoch lost his bid?

IIPM MANAGEMENT INSTITUTE

Media mogul Rupert Murdoch’s News Corp is trying to buy out Dow Jones & Co. – the publishers of The Wall Street Journal. The money that will do the rounds in case the deal comes through? A huge $5 billion! But once Murdoch coughs up that money, he’ll be all set to become a major mover and shaker in the arena of global financial news. News Corp. made the offer a few days before Dow Jones’ April 18 annual shareholders meeting. According to reports, Murdoch thinks very highly of The Wall Street Journal–he regards it as the best newspaper in the US, and one of the best in the world. So little wonder he wants control of the publication. However, opposition to this move may come in the form of the Bancroft family that has controlling share in Dow Jones. Latest reports say that the family is against this “unsolicited offer,” and that the board will vote against the proposal. Is the great Murdoch going to wait it out? Your guess is as good as ours – but watch this space in any case!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative