MySpace to Buy Wall Street Journal
Well, actually News Corp, which also owns MySpace, offered an unsolicited bid of US$5B for Dow Jones & Co. That’s a cost of $60/share for a company that was in the low $30s/share.
Rupert Murdock runs News Corp and is a brilliant businessman and evil media magnate. I won’t be surprised when this happens (if this was not a family owned business, they would have to accept such a ludicrous offer).
I have no great love for the WSJ or it’s company and think there’s little left to sully. As with MySpace he’s getting a flawed product that he can sell to the masses and make them think they want it.
Just what we need: More media consolidation!
Comment by MoeBush | May 4, 2007
It’s hard to consolidate the whole intarweb. It would cost a lot more than $5B to buy every blog, IP address, server, etc., etc.
If the dinosaurs want to consolidate all their antiques into one sinking ship, see if I care. I stopped reading the WSJ long ago. There’s just nothing there that I can’t find faster, better, and cheaper on the intertron.
Comment by Corey | May 7, 2007