Murdoch's Dow Jones deal gets final OK

[Kadie]

Rupert Murdoch, Chairman and CEO of News Corp, addresses a crowded Wall Street Journal newsroom on Thursday, Dec. 13, 2007. Murdoch's $5 billion-plus bid for Dow Jones & Co., publisher of The Wall Street Journal, cleared its final hurdle Thursday as shareholders of the financial publishing company gave their approval, setting up the deal to close later in the day. Les Hinton, left, will become CEO of Dow Jones & Co., Inc., and Robert Thompson, center, is the new publisher of Dow Jones & Co. and The Wall Street Journal.
(AP Photo/Mark Lennihan)


Murdoch's Dow Jones deal gets final OK

By SETH SUTEL, AP Business Writer
1 hour, 34 minutes ago


NEW YORK - Rupert Murdoch's $5 billion-plus bid for Dow Jones & Co., publisher of The Wall Street Journal, cleared its final hurdle Thursday as shareholders of the financial publishing company gave their approval, setting up the deal to close later in the day.

The changeover is sure to bring significant changes to the Journal, starting with a new management team that was announced late last week. Longtime News Corp. publishing executive Les Hinton will be chief executive, while Robert Thomson, editor of Murdoch's The Times newspaper in London, will be publisher. Several Dow Jones executives are departing, including CEO Richard Zannino.

Dow Jones held the shareholder vote in a hotel in the financial district of lower Manhattan, near its headquarters. The meeting was attended by a number of Dow Jones executives and employees as well as several members of the Bancroft family.

Shareholders approved the deal by a margin of 60.3 percent. About 78 percent of the company's publicly traded shares were voted for the deal, while 54 percent of the Class B shares, which are largely held by the Bancrofts, were in favor.

Murdoch has said he wants to beef up the paper's online operations and Washington coverage, and is contemplating changes to the Journal's Web site to further open it up to non-paying subscribers.

more...
http://news.yahoo.com/s/ap/20071213/ap_on_bi_ge/dow_jones_murdoch_26

[spanone]

1. more nails in the coffin of journalism.....

[sicksicksick_N_tired]

2. Won't someone stop this fascist pig?

As if concentration of wealth and power isn't bad enough it is being concentrated in the most malignant of men.

*sigh*

[sicksicksick_N_tired]

3. .

:silly: