davidbau.com

Fox Street Journal

Rupert Murdoch's News corp wants to buy Dow Jones for $5 billion. That is 65% more than the Wall Street Journal publisher was worth yesterday.

Murdoch's offer was turned down by the venerable Bancroft family that owns half of Dow Jones.

But "there can be a limit to their ability to say no," say some like Lawurence Haverty: "Dow Jones is a minnow in the shark pool." The issue is that public shareholders have been unhappy that DJ has been down in the dumps. (Murdoch helped that by causing a 55% jump in DJ yesterday without even laying down a dime.)

Murdoch's bid makes me sad. The Wall Street Journal is the best-written newspaper on the planet (discounting the wacky editorial page), and I really do not want it to be controlled by the creator of such wonderful stuff as the Sun, the New York Post, and Fox News.

Please?

Posted by David at May 2, 2007 05:39 PM