News Corporation's Acquisition of Dow Jones
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : BSTR301
Case Length : 20 Pages
Period : 2007-2008
Pub Date : 2009
Teaching Note : Available
Organization :
News Corporation;
Dow Jones
Industry :
Media & Newspaper Publishing
Countries : Global; USA
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction
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The merger also created a rift between the Bancroft family
and the employees of The Wall Street Journal (WSJ), Dow Jones' flagship
publication. The transaction was completed after getting the shareholder
approval on the merger agreement at a specially convened meeting on December 13,
2007.
The acquisition brought the New York City-based WSJ under the control of News
Corp. WSJ was the largest circulated and one of the most prestigious financial
dailies in the world. With the acquisition, Rupert Murdoch (Murdoch), Chairman
and CEO of News Corp., added this top financial daily to his media empire.
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The merger attracted criticism from various quarters, right
from the time News Corp. first made the merger proposal on April 17, 2007.
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The acquisition gave News Corp. a ticket into the
world of financial news business. Analysts also felt that it would add
some credibility to News Corp. in the media and publishing world.
Murdoch planned to increase the reach of WSJ by certain steps like more
aggressive expansion into some other lucrative international markets
like Asia.
The main reason for the acquisition of Dow Jones, according to analysts,
was to tap into the influential business daily market and also take on
the other leading financial daily in the world, the London-based
Financial Times5... |
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