Tuesday, July 31, 2007
News Corp finally gets DJ
The Bancroft family has apparently finally accepted Rupert Murdoch's $5 billion offer to buy Dow Jones. Personally I'm glad, because I was tired of hearing the family bellyache about how they weren't sure if they wanted News Corp to own the WSJ. I can see why they would be apprehensive, but if they didn't want to sell it they shouldn't have put it on the market.
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This isn't the best day in the history of Journalism. Unfortunately, we will have to leave behind the unbiassed opionion that we have enjoyed since 1889. It was origionally founded as the flagship publication of Dow Jones and now is owned by Dow Jones. Yet this great news, to some stock holders, was not enough to sustain the market against record high crued oil prices.
Side note: Congrats to Stan Puckett, the CEO and chairman of GreenBank. He rang the closing bell at the NASDAQ on what could be seen as a historic day.
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