I'm not sure what it really means to say 'News Corp. Reaches deal to buy Dow Jones' in the headline and yet say News Corp.'s big man Rupert Murdoch 'must still win over the company's controlling shareholders.' As far as I know, the Bancroft family (Dow Jones' big men and women) vehemently denied any sale of Dow and the Wall Street Journal to Murdoch would ever happen. Apparently Murdoch has reached a 'tentative agreement' with Dow's CEO for a $5b buy-out, but that doesn't mean anything... I think it's tentative in that the shareholders (the Bancroft family) are the ones who write the checks and make the decisions. I'd like to see the Wall Street Journal remain free from the grasp of News Corp, but I'm honestly not too confident that'll happen.
I'm not too sure I want the same company that owns perhaps two of the most evil things on this planet -- MySpace and Fox News -- to own the oldest stock index in the country. I guess Murdoch's timing is great, though... the Dow's 'stock' has never been higher. Get it?
Read about Murdoch's tentative take-over here.
*** UPDATE:Well shit.
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