Rupert Murdoch’s News Corp. Apparently Knows No Bounds To Power Over Information Trade
Dow Jones, which publishes The Wall Street Journal, has received an unsolicited $5 billion bid from Rupert Murdoch’s News Corp., and Reuters has confirmed that it received a buyout offer from an undisclosed suitor.
It remains unclear what the motivation is for such audatious bids. The International Herald Tribune reported that both Reuters and Dow Jones might be in play for the simple reason that they are bargains. However, more specific strategic ambitions and motivations must be understood.
“The more I read and think about this, the more I come to the interpretation that Rupert sees in The Wall Street Journal a chance to build a paper that could be his version of a New York Times,” Buisness Week columnist Jon Fine wrote. “One that’s probably more focused in content, but global in scope.”
Fine added that if Murdoch succeeds in buying the Bancroft-controlled Dow Jones — a possibility rejected by the Bancroft family — the acquisition would simply mean greater competition for The New York Times.
On the other hand, the bid for Reuters remains a mystery. No official word heard or read on the potential buyer.
Both companies sell information to other businesses, rather than consumers, Zwillenberg, head of the media practice at OC&C Strategy Consultantsexplained. This means the publisher can continue to charge a subscription for media in an environment where free content is increasingly becoming the standard.
Most agree Murdoch represents a shrewed buisnessman who’s aspirations know few bounds. Certainly, more details of his business ventures will be uncovered.
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