Murdoch’s News Corp. wins control of Dow Jones: WSJ

Murdoch’s News Corp. wins control of Dow Jones: WSJ
AFP
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First Published: Wed, Aug 01 2007. 08 22 PM IST
Updated: Wed, Aug 01 2007. 08 22 PM IST
New York: Rupert Murdoch’s News Corp. has won control of Dow Jones & Co and The Wall Street Journal, America’s top business newspaper, in a $5 billion (Rs 20,075 crore) takeover deal, the Journal reported on Tuesday (31 July).
Murdoch’s victory will see News Corp. take over the storied US media group, which also owns other newspaper, online and print assets, from the Bancroft family who had controlled Dow Jones for over a century.
The deal was approved by the boards of both companies, which met separately on Tuesday, the Journal said, citing people familiar with the situation.
The deal will also dramatically shake up the US media landscape as Dow Jones and the Journal are folded into the News Corp. global media empire.
A Bancroft family spokesman refused to comment when contacted by AFP, while representatives of Dow Jones and News Corp. were not immediately available for comment.
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First Published: Wed, Aug 01 2007. 08 22 PM IST