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Murdoch wins the Wall street Journal

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Murdoch wins the Wall street Journal


The Dow Jones media group is to have a new owner. In a deal worth around three and a half billion euros, Rupert Murdoch’s News Corporation has agreed to buy out the prestigious company. It means the Australian-born media mogul will achieve his long held dream of running one of the world’s most influential business newspapers,the Wall Street Journal – published by Dow Jones. It’s taken Murdoch three months to persuade the deeply split Bancroft family to sell, they’ve controlled the parent company for more than a century. There have been concerns that a Murdoch take over would threaten the independence of the gold standard financial journal, indeed initial Murdoch bids were rejected. But analysts say the major shake-up of the US media world is to become a reality, with both sides agreed. News Corporation already owns 100 other newspapers world wide as well as television outlets including Fox and Sky. Adding the Wall Street Journal to Murdoch’s media stable is likely to provoke some stiff competition in the world of financial news reporting.

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