MySpace to Buy Wall Street Journal

Dow Jones PricesWell, 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.

source: WSJ online