News Corp., owned by Rupert Murdoch, the company that owns Fox Sports and Fox Sports Net and is in a joint venture with Premiere Radio Networks to run Fox Sports Radio, has entered into a preliminary agreement to purchase Dow Jones & Company for $5 BILLION. That’s right, $5 billion. The deal still needs approval. As a person who doesn’t like media consolidation, I’m hoping the Bancroft family which still owns most of Dow Jones will vote against the deal. The agreement includes the Wall Street Journal which Murdoch covets.
You would think with this big story, it would get coverage on CNBC, Fox News, CNN or MSNBC. Nothing. Zero. Zilch. CNBC which is supposed to be a business news channel is stuck in a Mad Money rerun. Great.