News Corp Is Buying Dow Jones

Rupert Murdoch’s News Corporation has completed a deal to purchase Dow Jones & Company for five billion dollars. According to a joint statement from Dow Jones and News Corp, the Bancroft family, which has owned and controlled Dow Jones for over a hundred years, voted to support the deal. As part of the agreement, a member of the Bancroft family will be appointed to the board of directors of News Corp.

Acquiring Dow Jones is a huge success for Rupert Murdoch. It is a world-known publishing company, and its prize asset — The Wall Street Journal — is one of the largest-circulation newspapers in the U.S. and is read by the nation’s most influential businessmen.

Dow Jones and The WSJ are just the latest additions to Murdoch’s global empire. News Corp also owns the New York Post, the Fox Broadcasting Company, Twentieth Century Fox, Fox News Channel, MySpace, HarperCollins, The Sun, The Times and Sunday Times, The Weekly Standard, and many more newspapers, magazines, television services, and Internet properties around the world.

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