Media 01 May 2007 01:52 pm
News Corp. (NWS) owns the New York Post, one of the few American newspapers improving its circulation. Dow Jones (DJ) owns another one, The Wall Street Journal. News came out that News Corp. wants to buy Dow Jones for $5 billion.
I bet you wish you owned Dow Jones stock this morning. It shot up to $57 dollar/share on the news.
News Corp.’s bid might ignite a bidding war for Dow Jones.
The deal makes a lot of sense for News Corp. The Post and WSJ can combine printing and back office operations to bring the tabloid into the black. There’s also the upcoming Fox Business Channel which could use the WSJ’s cachet.