Murdoch's Patience May Be Rewarded
This column was originally published on RealMoney on May 1 at 11:56 a.m. ET. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
It's about time. Finally, Rupert Murdoch makes the bid, a $60-a-share bid for Dow Jones (DJ Quote). About 10 years ago, Murdoch called me in and said he wanted to buy Dow Jones. He felt that franchise couldn't be independent much longer, and he wasn't going to let anyone buy it.
He wanted to know -- because I had bought a 4% stake to try to force changes -- whether he could approach board members and try to take the company over. The stock was in the low $40s then. I suggested he pay $73. (This is all in Confessions of a Street Addict, by the way.) I also reminded him that the family still controlled it, and they would never sell. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
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