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July 25, 2008 9:47:35 PM CDT



News Corp. Offers $5B For Dow Jones

Posted May 1, 07 1:29 PM CDT in Business 

(Newser) – Rupert Murdoch's News Corp. has made an unsolicited $5 billion offer to buy Dow Jones & Co., which publishes the Wall Street Journal. Dow Jones publicized the mogul's suit today to an immediate 58% spike in value. Murdoch owns the New York Post and TV giant Fox News.

News Corp. also runs papers in Britain and Australia, and recently bought out the social-networking website MySpace. The Journal itself predicts a possible bidding war on the heels of the offer, with the New York Times and the Washington Post potentially wooing the company as well. Dow Jones' controlling Bancroft family has dismissed earlier offers, but says it's "evaluating" Murdoch's proposal.

Source CNN

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  (Associated Press)
  (Associated Press)
Co., publisher of the Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corporation to buy the company for $5 billion. The news sent shares of News Corp. soaring...   (Associated Press)
Co., publisher of the Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corporation to buy the company for $5 billion. The news sent shares of News Corp. soaring...   (Associated Press)
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