Just Dow it
Rupert Murdoch finally got his paper. His drama queen battle for Dow Jones
Consider yourselves lucky, Dow Jones shareholders. No one really had a reason to bid more than $5 billion for the company the way News Corp. did. It was also an offer that would be worth less over time. With the launch of Fox Business Network looming, any delays in acquiring Dow Jones would have made it practically pointless from a branding perspective.
News Corp. hopes to use The Wall Street Journal -- and perhaps Barron's -- as branding ammo in giving its business news cable channel credibility. When it comes to financial reporting, The Wall Street Journal is as close as one could get to the gold standard. Taking on General Electric's
The deal still has to pass regulatory muster. Critics are lining up against it. Still, it could have been worse. If the Bancrofts had kept dragging their feet or talked down the deal entirely, there really would have been no one waiting in the wings. Maybe the stock wouldn't have swan-dived back into the $30s, where it was before the surprisingly beefy offer came in, but it would have definitely plummeted sharply.
News Corp. is often a politically polarizing company, given the conservative bent of its FOX News, but this is also the same company behind the free-spirited MySpace and this past week's box office success of The Simpsons. The difference now is that the company is going from Homer Simpson's signature "D'oh" to shelling out a ton of dough.
Ice is nice at Disney
However, these are competitive times. Whether it's battling Viacom's
Until next week, I remain,
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Longtime Fool contributor Rick Munarriz recommends windshield wiper fluid when trying to look back. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. He does not own shares in any of the companies in this story, save for Disney. The Fool has a disclosure policy.