Murdoch bids for Dow Jones

Rupert Murdoch describes his bid for the Dow Jones

" the greatest newspaper in America, one of the greatest in the world. It has great journalists which deserve, I think, a much wider audience. We feel that with coming both online and offline, there's a great deal to be done here. It's got great journalists, it's got great management, but it's got a rather confined capital. It's got to be part of a bigger organization to be taken further."


(From poscript of Interview Fox news via follow the media)

In the interview the media mogul has few concerns about any regualatory problems

"I have good friends on both sides of the aisle. There are no laws against this. No laws covering national newspapers, in terms of television stations and overlaps or anything of that sort. You don't have other major national newspapers, so there's no monopoly issue."

So no problems there either for Rupert as he continues to expand his media empire.

On financial grounds alone it is going to be difficult for the Bancroft familt to turn down this deal at $60 a share.The rumour is that Murdoch is planning to launch a major business channel in the States