Dow Jones, the Most Coveted Bride
The battle for Dow Jones continues: Following the Financial Times publisher Pearson and Rupert Murdoch’s News Corp., another media giant has expressed interest in the publisher of The Wall Street Journal: Mr. MySpace, Brad Greenspan, wants to acquire a 25 percent stake in Dow Jones together with a group of investors.
The battle for Dow Jones continues: Following the Financial Times publisher Pearson and Rupert Murdoch’s News Corp., another media giant has expressed interest in the publisher of The Wall Street Journal: Mr. MySpace, Brad Greenspan, wants to acquire a 25 percent stake in Dow Jones together with a group of investors. According to the SDA, the investor group led by the MySpace founder is offering Dow Jones shareholders $60 per share—the same price as Murdoch’s News Corp. However, the latter intends to acquire the entire company for a total of $5 billion (see
). With his $1.25 billion investment, Greenspan aims to expand the group’s electronic media division and ensure that Dow Jones remains independent. An interesting detail: In 2005, Greenspan unsuccessfully fought against News Corp.’s takeover of Intermix Media, the parent company of MySpace. Meanwhile, the Dow Jones Board of Directors announced on Wednesday that it would henceforth conduct the takeover talks with News Corp. itself. Until now, members of the Bancroft family—who control the company through shares with multiple voting rights—had been negotiating directly with Murdoch. Some of the most prominent family members are fighting tooth and nail against a News Corp. takeover because they fear for the journalistic and editorial independence of the Dow Jones publications.
). With his $1.25 billion investment, Greenspan aims to expand the group’s electronic media division and ensure that Dow Jones remains independent. An interesting detail: In 2005, Greenspan unsuccessfully fought against News Corp.’s takeover of Intermix Media, the parent company of MySpace. Meanwhile, the Dow Jones Board of Directors announced on Wednesday that it would henceforth conduct the takeover talks with News Corp. itself. Until now, members of the Bancroft family—who control the company through shares with multiple voting rights—had been negotiating directly with Murdoch. Some of the most prominent family members are fighting tooth and nail against a News Corp. takeover because they fear for the journalistic and editorial independence of the Dow Jones publications.
