All three networks mentioned the $5bn takeover bid by media mogul Rupert Murdoch for The Wall Street Journal and the rest of the Dow Jones business. It was no surprise that NBC should be the only one to assign a reporter to the story since the deal, if consummated, would pose a direct challenge to CNBC, its cable business channel. Murdoch has already announced plans to launch Fox Business Channel as CNBC's rival. He wants to add "the most important name in business" to his stable, CNBC's David Faber reported. So far, Murdoch has been rebuffed by the Bancroft family, which has had a controling stake in Dow Jones since 1902, but "that does not mean the story ends here."
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.