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Rupert Murdoch Seeks to Buy Wall Street Journal

HeadlineMay 02, 2007

In media news, Rupert Murdoch is attempting to expand his global media empire. On Tuesday, he made an unsolicited bid to buy Dow Jones & Company, the publisher of The Wall Street Journal, for $5 billion. Murdoch’s News Corp. is already one of the world’s largest media companies. Its holdings include the TV network Fox, the book publisher HarperCollins, the New York Post, MySpace.com, The Weekly Standard and scores of other media companies. The Bancroft family, which controls the shareholder vote of Dow Jones, said it would oppose Murdoch’s deal.

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