Monday, July 23, 2007
My Call: Murdoch Gets WSJ Publisher
Step right up and place your bets: Does Rupert Murdoch buy Dow Jones & Co., publisher of the Wall Street Journal? Or not?
My bet is yes.
Decision time is suppose to be this Friday, after the Bancroft family, which controls the company, evaluates its options. Click here for the latest information.
Some family members have deep reservations about Murdoch's style of play, but I think they'll hold their noses and take the $5 billion he's plunking down. No other viable suitors have emerged that can exceed his offer, despite some late-hour overtures.
Moreover, nobody is going to offer this much for what's still very much a traditional newspaper company. Click here for some other reasons, mentioned in a previous post.
There will be time to discuss later what a Murdoch-owned Dow Jones, publisher of the Wall Street Journal, Barron's and other media properties, will mean to the corporate world and journalism.
Just remember, if Murdoch wins--you read it here first.
If he loses, I'll get back to you....
Many thanks to Chicago Tribune columnist and blogger Eric Zorn for mentioning REEDBIZ on his site. Check it out .