News Corp. Wants to Acquire Dow Jones; Offers $60 Per Share
Might this be the beginning of more media ownership consolidation?
It appears that Mr. Murdoch and company (aka News Corporation) wants to acquire that vast resources (including The Wall Street Journal) of Dow Jones. Today, News Corp. offered $60 per share in an unsolicited bid.
Dow Jones & Company (NYSE: DJ) today confirmed that its Board of Directors has received an unsolicited proposal from News Corporation to acquire all of the outstanding shares of Dow Jones common stock and Class B common stock for $60.00 per share in cash, or in a combination of cash and News Corporation securities.
The Board of Directors and members and trustees of the Bancroft family, who hold shares representing a majority of the Company’s voting power, are evaluating the proposal. There can be no assurance that this evaluation will lead to any transaction.
Along with The Wall Street Journal (various editions) and Barrons, Dow Jones holdings include:
+ Factiva (became 100% owned by DJ last year after acquiring 50% of the company from Reuters)
+ Marketwatch.com
+ Dow Jones Indexes
+ Dow Jones Newswires
+ Dow Jones Financial Information Services
+ Far Eastern Economic Review
+ Ottaway Community Newspapers
+ Wall St. Journal Radio Network
+ Dow Jones Integrated Solutions
++ Alliances with:
+ Hearst, Smart Money magazine
+ Vedomosti
+ CNBC (NBC and DJ)
+ Stoxx Limited
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