The Economist has an interesting overview of Rupert Murdoch’s purchase of Dow Jones this week. The piece, “Murdoch Gets His Trophy,” highlights the negotiating skill exhibited by Murdoch in the whole affair, from the timing of the offer to his spot-on reading of the Bancroft family’s internal politics.
That said, the magazine questions the wisdom of the purchase. It’s unlikely, The Economist argues, that Dow Jones will provide to New Corporation anything near the $5 billion Rupert paid.
“Which is why,” it says,” some News Corporation shareholders suspect that they are just excuses, and that Mr Murdoch has put his longtime desire to own the one of the world’s great newspapers before any serious consideration of value for money.”
Wouldn’t it be ironic — after all the hand-wringing over the undue power the acquisition supposedly gives New Corporation — if the biggest loser turns out to be News Corporation itself?
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