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Rupert Murdoch, the Don Corleone of Media, Makes Bid to Buy Wall Street Journal

Reported by Marie Therese - May 1, 2007 -

CNBC reports that Rupert Murdoch's News Corporation has made a bid to acquire Dow Jones, owner of the Wall Street Journal, Barrons and the online service MarketWatch. Dow Jones confirms that News Corp has offered the Bancroft famiily an incredible over-the-top bribe of $60 a share in cash or combination of cash and stock, which is virtually an "offer that can't be refused" by the shareholders. This acquisition would pull the WSJ away from CNBC and put it into the sphere of influence of the new FOX Business Channel. Joseph Nocera of the New York Times says the Bancroft family looks on Murdoch as a "heathen" but the offer may be impossible to turn down. Could it be time for a consortium of grass roots progressives headed up by Al Gore and other wealthy liberals to buy a media company? With video.