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Should Rupert Murdoch and his News Corp. acquire Dow Jones & Co., the already turbulent media landscape could become altered almost unrecognizably.
Media observers say that the acquisition would reinvigorate the Dow Jones brand by combining it with News Corp.’s global assets, writes Crain’s New York Business. The combined properties would offer advertisers access to outlets around the world and on every conceivable media platform. When the planned Fox Business cable channel, co-branded with the Dow Jones name, is added into the mix, market share could be taken from rivals like CNBC.
News Corp. could also help Dow Jones grow its foreign operations, where the current management has been pulling back. Breathing life into the paper’s European and Asian editions and its newswires could pose a direct challenge to the Financial Times and Reuters.
Not all watchers believe the acquisition would be a smart move. Some insiders point out that Tribune Co. failed to combine newspapers and television successfully, and some analysts say that News Corp. and Dow Jones would be odd bedfellows.
For the acquisition to take place, Murdoch would have to convince the Bancrofts, the majority shareholders of the company, to accept his $60-per-share offer. Family members, whose shares represent 52 percent of Dow Jones’ voting power, so far remain opposed.
The employees union is also opposed. They believe News Corp. would skew coverage and destroy the Journal’s reputation.
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