Rupert Murdoch takes over Wall Street Journal

This video from the USA is called A Bill Moyers essay on Rupert Murdoch and The Wall Street Journal.

By Jerry White:

The takeover of Dow Jones & Company by Rupert Murdoch’s News Corporation was finalized late Tuesday evening. The $5 billion deal will add the Wall Street Journal and other assets to Murdoch’s worldwide media empire and lead to a further concentration of the media in the hands of a few super-rich individuals and vast conglomerates.

News Corporation, which is valued at $28 billion, already controls over 100 newspapers worldwide, including the Times of London, the Australian, the New York Post and the Chicago Sun-Times. It also owns the Fox television network in the US and Sky News in the UK and dozens of other media companies, ranging from film and home entertainment to satellite broadcasting, magazine and book publishing and the Internet, where it recently bought the social networking web site MySpace.

Several other media giants also made bids for Dow Jones, including General Electric Co. (owner of NBC and Universal Pictures), which attempted to form a group with Microsoft, IAC/InterActiveCorp’s Barry Diller and Pearson PLC, owner of the Financial Times.

Murdoch, who is ranked 32nd in Forbes magazine’s list of the richest 400 Americans, with a net worth of $7.7 billion, made the highest bid at $60 a share—or 67 percent higher than Dow Jones’s share price of $36 when the offer became public.

MySpace: here.