Dow Jones and Wall Street Journal will not be part of Rupert Murdoch empire

Update July 7th: Apparently all of the following text is incorrect, a statement was made saying that the buyout is not going to happen. When I wrote this post, I made the title be “Dow Jones and Wall Street Journal likely to be part of Rupert Murdoch empire” as I read the fine print, it was not yet a done deal. I really did my best in this case to be sure to read the details before posting. I’ve changed the title

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I just learned from John Furrier’s blog that Rubert Murdoch purchased Dow Jones for 5 billion. I thought there was going to be a bigger fight, but what’s done is done. It will be interesting to see what comes out of this. I’ve got some good friends that work for Dow Jones, like Matt Toll, Daniela, and a bunch others.

“Rupert Murdoch has succeeded with his $5 billion bid for Dow Jones, owners of the Wall Street Journal, according to sources acting for the Dow Jones board. Negotiations on price and matters of principle have been completed, though some details remain to be resolved. None is regarded by either side as a deal-breaker.

The Dow board is confident that the terms of the deal will be accepted by the Bancroft family, which controls a majority of voting shares in Dow Jones, over the next few working days. A formal announcement is expected next week. “

Says the Business.

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