NewsCorp/Dow Jones Deal Off?
By Nicole Belle Sunday Jul 29, 2007 6:45pmRupert Murdoch's News Corp. said it is ``highly unlikely'' to proceed with a $5 billion bid for Dow Jones & Co. without more support from the publisher's controlling Bancroft family. Dow Jones shares fell 5.3 percent.
The reported number of votes in favor of the deal isn't enough, a News Corp. spokesman, who declined to be identified, said in an interview. Murdoch needs support from family members holding about 30 percent of the voting stock and had almost 28 percent as of yesterday, the Wall Street Journal reported today.
Bancroft family members have until 5 p.m. to decide on the offer, a person with knowledge of the process said. The family, which controls 64 percent of Dow Jones's voting shares, are split about selling to News Corp. The deadline, set by family trustee Michael Elefante, follows three months of debate among the family and Dow Jones's board over whether Murdoch would try to influence editorial content at the Journal.
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poor little fella
the very idea that they're balking gives me such hope.
Am I the only one who finds it a bit weird that there's Dow Jones stock? Is that stock used to measure the Dow Jones Average?
please. Kick the dirty digger in the nuts, bancrofts.
Another chink in the "Carte Blanche" armour of Republicanist Takoverism™ (©Targa). Republicanism at it's worst.
I would hate to see the right wing rag that is is become a right wing hack rag that it would be under the Newscorp banner.
Another chink in the "Carte Blanche" armour of Republicanist Takeoverism™ (©Targa). Republicanism at it's worst.
oops... sorry for the dup post.
Rupert Murdoch influence the media?
No....NEVER!
Rupert wouldn't tell a single lie to anybody.
rupert would not touch a thing.
he'll leave THAT to roger ailes!
So Rupert doesn't get his new toy. I'm soooo sorryfor him.
dothehop @ 6:
with the editorial staff, it's already hackneyed. but the real fear is financial info in the hands of these manipulators. Can you see Orally-esque financial reporting for the masses? that scares the hell out of me!
...what? no strippers in the newsroom? ooohhh, krikey!
O'Reilly went off on DKos again tonight about a picture he found on DailyKos website of Lieberman in an all too familiar compromising position.
http://thumbsnap.com/v/vSi0w4Q6.jpg
LOL!
I much prefer NewsCorpse instead!
BaScOmBe @ a two-day old post-
Thanks fer the readin' material about CIA in Iraq! I wasn't aware it went that far back.
BaScOmBe @ 12:
"The deadline, set by family trustee Michael Elefante, follows three months of debate among the family and Dow Jones’s board over whether Murdoch would try to influence editorial content at the Journal."
Did Murdoch cross his heart, hope to die, stick a needle in his eye?
That bastard only wanted the Journal so he could mine the public trust. He is only interested in selling his own position in the market. Scumbag.
Didn't Ann Bancroft go to school at Eaton, in Briton?
Ha
Question: This Bancroft family -- was Anne Bancroft, the actress, related?
Supreme Justice Jackass is hospitalized, Senator "It's a series of tubes!" Stevens is investigated and Rupert's little take-over deal falls through. It isn't Christmas is it? *checks calender*
Drop me a couple Mill Rupert and I'll apply a little rangeling in the bancroft camp.
Jo @ 20:
That was her stage name. Anna Maria Louisa Italiano was her given name at birth. She was also married to Martin May, and, susequently, Mel Brooks.
If the deal is off, it would be proof to me that God exists.
Andy K @ 16:
you're welcome. our gubmint has a long and sordid past, especially since WW!!.
many excuses have been concocted to use the 'cloak' of patriotism. history has invariably shown that since the end of WW!, we've become primarily corporate imperialists. period.
today we are beyond blatant.
Doggiebobo @ 17:
Andy K @ 3:
Dow Jones is/was an investment company that came up with the Dow Jones Industrial Average. It's sort of the same with Standard & Poor's 500 or Russell 2000 (other indexes named after investment firms).
Oh goody... this means that the WSJ will remain as a normal rightwinged rag instead of becoming a fucking batshit crazy rightwinged rag.
Blue Buddha @ 28:
Right on..
They still have to fire John Fund before they get me back as a subscriber.
Ahhh, this makes me very happy!
Redrum, redrum, Rupert Murdock, Donald Rumsfeld...
Hey kids, didja' know both their names are anagrams for Murder...redrum, redrum.........
Crap, I thought the WSJ would finally get a gossip page and a real sports section...life is so unfair.
One can only hope some people balk at the thought of Murdoch running the publication into the dirt.
Hat-tip to Bancroft family member hold-outs!
Thank God there are still some rich honorable famalies left in this country, that understand exactly what a sale like that would do to this country.
This man is poisen to every dame things he gets his nasty grubby overly rich hands on and thank the good Bancroft family for this wounderful deed.
#24 - nope, there is no god.
Money is the bottom line for these scumbags.
http://www.msnbc.msn.com/id/20032918/
*WHEW* That Was Close!
Love when the Repug. spin machine owners get kicked in the teeth.
Oh, crap:
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