Murdoch Finally Bags Dow Jones For $5 Billion
Wed, 08/01/2007 - 18:02 — Sahad P VThis just in. Media mogul Rupert Murdoch has bought over Dow Jones, the parent company of The Wall Street Journal, in a $5-billion deal, reports WSJ.com. After three months of hectic debate within the controlling Bancroft family and among the editorial fraternity if it should sell to business-minded Murdoch, finally the Australian-born has clinched the deal at $60 a share, a 67 per cent premium over the compay's share price when it went public.
See the detailed story in WSJ.com.
