Feeds

Murdoch makes high premium bid for Dow Jones

$5bn surprise offer could tempt Bancroft

Secure remote control for conventional and virtual desktops

It's a bit early to do much in the way of analysis yet, but Rupert Murdoch has made a bid through his News Corporation to buy Dow Jones, including the prestigious Wall Street Journal.

The bid is for $5bn at $60 a share, and already the share price has risen to $56 a share.

The company is more usually valued at around $35 a share, and the substantial premium is getting market followers seriously concerned that the core Dow Jones investors may take the money.

The Bancroft family is cited as a major shareholder controlling 24 per cent of the stock, but with voting control. If Bancroft sells, it is assumed the rest of the public will follow suit and the bid will be supported by the board.

We have no insight into the Bancroft state of mind, but Murdoch seems to feel the need to re-assert himself after the near miss of losing personal control of News Corp, when Liberty Media's John Malone kept stake building within News Corp and threatened to undermine Murdoch's control unless he sold him DirecTV, a deal that has now been agreed, but by no means completed.

Murdoch perhaps sees himself as a convert to web based businesses having bought MySpace and game site IGN, and perhaps sees some upside in Dow Jones on the internet, perhaps in real time feeds and news feeds.

The bid came as a complete surprise, and is out of character with prior acquisitions by Murdoch which have focused on his judgment of the tastes of the "average" man in the street, about which he has nearly always been proven to be right.

Copyright © 2007, Faultline

Faultline is published by Rethink Research, a London-based publishing and consulting firm. This weekly newsletter is an assessment of the impact of the week's events in the world of digital media. Faultline is where media meets technology. Subscription details here.

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?