Dow Jones Confirms Murdoch's $5B Bid; WSJ Staffers Blast Rupe's 'Quality Crushing' Ways
‘A Willingness to Crush Quality and Independence’
Dow Jones has confirmed Rupert Murdoch‘s surprise bid to buy the company, news of which sent DJ stocks soaring:
NEW YORK, May 1, 2007 — Dow Jones & Company (NYSE:DJ) today confirmed that its Board of Directors has received an unsolicited proposal from News Corporation to acquire all of the outstanding shares of Dow Jones common stock and Class B common stock for $60.00 per share in cash, or in a combination of cash and News Corporation securities.
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