BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Rupert Murdoch has it all wrong about fee-based web content]]>http://www.bloggingstocks.com/2009/08/10/rupert-murdoch-has-it-all-wrong-about-fee-based-web-content/http://www.bloggingstocks.com/2009/08/10/rupert-murdoch-has-it-all-wrong-about-fee-based-web-content/http://www.bloggingstocks.com/2009/08/10/rupert-murdoch-has-it-all-wrong-about-fee-based-web-content/#commentsFiled under: ,

When News Corp. (NASDAQ: NWS) outspoken Chairman Rupert Murdoch reversed himself recently and declared that all his company's web properties would soon move to a fee model, were you perplexed? After all, Murdoch runs one of the largest media empires on the planet. Combine that with a conditioned customer used to getting almost all content for free and yes, we have a problem.

Murdoch's empire just suffered an advertising meltdown with the rest of the world, with News Corp. declaring a huge decline in ad revenue for its latest quarter. Just a few years ago, Murdoch was toying with the idea of dropping the fee for looking at the Wall Street Journal's articles and columns. He's done a 180 here and wants to bring the Journal's pay-per-use model to just about every web property his company owns while he shouts "quality journalism is not cheap" from the rooftops of Fox News.

Continue reading Rupert Murdoch has it all wrong about fee-based web content

Rupert Murdoch has it all wrong about fee-based web content originally appeared on BloggingStocks on Mon, 10 Aug 2009 12:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Fox NewsinthenewsMurdochNWSPay websitesRupert MurdochWall Street journalMon, 10 Aug 2009 12:20:00 EST<![CDATA[Murdoch wrests editorial control of Wall Street Journal]]>http://www.bloggingstocks.com/2008/05/22/murdoch-wrests-editorial-control-of-wall-street-journal/http://www.bloggingstocks.com/2008/05/22/murdoch-wrests-editorial-control-of-wall-street-journal/http://www.bloggingstocks.com/2008/05/22/murdoch-wrests-editorial-control-of-wall-street-journal/#commentsFiled under: ,

Fortune's Devin Leonard writes about the changes that have come at the Wall Street Journal following its acquisition by News Corp. (NYSE: NWS) and concludes that Rupert Murdoch has failed to live up to his promise to maintain editorial independence at the paper.

After pushing out Marcus Brauchli as managing editor, he installed Robert Thomson at the helm -- an Australian who had previously sat at the helm of News Corp.'s The Times, a London newspaper.

There's nothing too shocking here. Gary Weiss and many others had predicted all along that, promises to the contrary aside, Murdoch would find a way to do what he wanted once he won his prize.

Leonard concludes that "Murdoch must be pleased. The Bancrofts probably feel differently. But it's too late for them to complain now. If they didn't want Murdoch to have his way, they never should have parted with Dow Jones."

The problem is that, as a public company with a fiduciary responsibility to deliver returns to shareholders, Dow Jones, ethically and maybe legally too, had to sell given that Murdoch's offer was such a strong one. The only way to avoid putting profits over journalistic integrity is to be a private company.

Murdoch wrests editorial control of Wall Street Journal originally appeared on BloggingStocks on Thu, 22 May 2008 10:22:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>inthenewsMurdochNews Corp.NewsCorp.NWSWall Street JournalWallStreetJournalThu, 22 May 2008 10:22:00 EST<![CDATA[Newspaper wrap-up: Sprint may reverse course and cast off Nextel]]>http://www.bloggingstocks.com/2008/05/06/newspaper-wrap-up-sprint-may-reverse-course-and-cast-off-nextel/http://www.bloggingstocks.com/2008/05/06/newspaper-wrap-up-sprint-may-reverse-course-and-cast-off-nextel/http://www.bloggingstocks.com/2008/05/06/newspaper-wrap-up-sprint-may-reverse-course-and-cast-off-nextel/#commentsFiled under: , , , , , ,

MAJOR PAPERS:
  • Three years into its $35B takeover of Nextel, the Wall Street Journal reported that Sprint Nextel Corporation (NYSE: S) is considering selling or spinning off the troubled unit. Few details were available and a deal is not imminent.
  • The Wall Street Journal also reported that pressure is mounting on Citigroup Incorporated's (NYSE: C) CEO Vikram Pandit to show that he can turn around the troubled bank. Executives believe Pandit, who has been praised for his cautious and deliberate approach, has been taking "too long" to make crucial decisions.
WEB SITES:
  • According to a person close to Google Inc (NASDAQ: GOOG), Reuters reported that Google and Yahoo! Inc (NASDAQ: YHOO) are still "hammering out the intricacies" of a potential advertising and search deal. The source said no final agreement has been reached yet.
  • ABC News learned that if Rupert Murdoch does not testify in a lawsuit accusing one of his companies of "corporate espionage," it may cost News Corporation (NYSE: NWS) hundreds of millions of dollars, a federal judge overseeing the trial said. News Corp has denied any wrongdoing, and lawyers maintain Murdoch had no direct knowledge of the unit's alleged hacking into EchoStar Corporation's (NASDAQ: SATS)/DISH Network Corporation's (NASDAQ: DISH) security code and posting it on the Internet.

Newspaper wrap-up: Sprint may reverse course and cast off Nextel originally appeared on BloggingStocks on Tue, 06 May 2008 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CCitigroupDISHDish NetworkDishNetworkEchoStarGOOGGoogleMurdochNews CorpNewsCorpNextelNWSNWS.APanditSSATSSprintSprint NextelSprintNextelVikram PanditVikramPanditYahooYHOOTue, 06 May 2008 08:00:00 EST<![CDATA[Cramer on BloggingStocks: Fed will cut because it has to]]>http://www.bloggingstocks.com/2008/02/08/cramer-on-bloggingstocks-fed-will-cut-because-it-has-to/http://www.bloggingstocks.com/2008/02/08/cramer-on-bloggingstocks-fed-will-cut-because-it-has-to/http://www.bloggingstocks.com/2008/02/08/cramer-on-bloggingstocks-fed-will-cut-because-it-has-to/#commentsFiled under: , , , ,

TheStreet.com's Jim Cramer says to ignore the inflation worrywarts; the Fed needs to keep easing to keep things in check.

"Mounting Inflation Concerns Weigh on Fed's Next Move."

Here's where we need Rupert Murdoch to exert control over the Journal. Here's where we need some real intervention from someone with business sense.

That's right, because we have seen a "mounting inflation concerns" headline about the Fed pretty much every week since the easing began. It's become something like "DA Probes Rackets," when there's nothing else to write about.

Do you realize that we have had gigantic easings right after Fed frets of inflation or when some Fed head says nothing's wrong and the fundamentals are sound? Do you realize that even under Murdoch, there is no accountability for this stuff for anyone -- neither Fed nor the WSJ?

Continue reading Cramer on BloggingStocks: Fed will cut because it has to

Cramer on BloggingStocks: Fed will cut because it has to originally appeared on BloggingStocks on Fri, 08 Feb 2008 08:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredfederal reserveFederalReservejim cramerJimCramermurdochwall street journalWallStreetJournalwsjFri, 08 Feb 2008 08:35:00 EST<![CDATA[FT.com opens up (partially) and its traffic rockets (totally)]]>http://www.bloggingstocks.com/2008/01/15/ft-com-opens-up-partially-and-its-traffic-rockets-totally/http://www.bloggingstocks.com/2008/01/15/ft-com-opens-up-partially-and-its-traffic-rockets-totally/http://www.bloggingstocks.com/2008/01/15/ft-com-opens-up-partially-and-its-traffic-rockets-totally/#commentsFiled under: , , , , ,

As the newspaper industry is assaulted by bloggers on one side and readers' decreasing willingness to pay for content on the other, the industry in searching for the right model.

Current trends show companies like the New York Times (NYSE: NYT) lowering or removing the "pay wall" between users and content. The NYT recently discontinued its Times Select section, which required subscription fees, and since then, traffic to parts of the site that previously required payment has increased greatly.

So, it's not surprising to read an article today in PaidContent.org that claims similar success with a change in the model at the Financial Times' website. PaidContent.org reports claims by staff at FT.com that admit to traffic and registration increases due to a recent change in the subscription structure.

"FT.com now allows readers coming in from blogs and other aggregators to read five stories a month for free and another 30 for free upon registering with the site," says PaidContent.org. After that, users would have to pay up.

The result?

Continue reading FT.com opens up (partially) and its traffic rockets (totally)

FT.com opens up (partially) and its traffic rockets (totally) originally appeared on BloggingStocks on Tue, 15 Jan 2008 13:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>internetinthenewsmediamurdochnew york timesnewsnewspapersNewYorkTimesnytwall street journalWallStreetJournalwsjTue, 15 Jan 2008 13:35:00 EST<![CDATA[Newspaper wrap-up: Tribune buyout contingent on solvency opinion]]>http://www.bloggingstocks.com/2007/12/07/newspaper-wrap-up-tribune-buyout-contingent-on-solvency-opinion/http://www.bloggingstocks.com/2007/12/07/newspaper-wrap-up-tribune-buyout-contingent-on-solvency-opinion/http://www.bloggingstocks.com/2007/12/07/newspaper-wrap-up-tribune-buyout-contingent-on-solvency-opinion/#commentsFiled under: , , , , ,

MAJOR PAPERS:
  • The Wall Street Journal's "Deal Journal" reported that Sam Zell's planned buyout of Tribune Company (NYSE: TRB) is contingent on the receipt of a solvency opinion, and that this is the first time they have ever seen a deal dependant on this.
  • The WSJ's "Heard on the Street" reported that Countrywide Financial Corporation (NYSE: CFC) may not be out of the woods yet. Despite executives promising a return to profitability, there is still a risk the company may eventually seek bankruptcy protection or "resort to huge sales" of new stock.
  • U.S. private equity group JC Flowers "is understood" to have walked away from the auction for troubled bank Northern Rock, the Financial Times reported.
  • Rupert Murdoch is shaking up the management of News Corp (NYSE: NWS.A), the Financial Times reported, giving his son, James Murdoch, control over the company's European and Asian operations, and appointing two trusted executives to lead Dow Jones & Company Inc (NYSE: DJ) and the Wall Street Journal.
WEB SITES:
  • Barron's Online's "Weekly Trader" said AutoNation Inc (NYSE: AN) looks attractive now, despite hovering near a multi-year low. The company has also been on a slow but steady quest to diversify away from unpopular domestic brands by snapping up luxury and import dealerships.

Newspaper wrap-up: Tribune buyout contingent on solvency opinion originally appeared on BloggingStocks on Fri, 07 Dec 2007 08:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ANAutoNationCFCCountrywide FinancialCountrywideFinancialDJDow JonesDowJonesJC FlowersJcFlowersMurdochNews CorpNewsCorpNorthern RockNorthernRockNWS.Aprivate equityPrivateEquityRupert MurdochRupertMurdochSam ZellSamZellTRBTribuneWall Street JournalWallStreetJournalFri, 07 Dec 2007 08:05:00 EST<![CDATA[Before the bell: Futures edge lower, awaiting jobs data]]>http://www.bloggingstocks.com/2007/12/07/before-the-bell-futures-edge-lower-awaiting-jobs-data/http://www.bloggingstocks.com/2007/12/07/before-the-bell-futures-edge-lower-awaiting-jobs-data/http://www.bloggingstocks.com/2007/12/07/before-the-bell-futures-edge-lower-awaiting-jobs-data/#commentsFiled under: , , , , , , , , ,

U.S. stock futures were slightly lower this morning, indicating a flat to mildly down open on Wall Street. However, all this could change when non-farm payroll is reported an hour before the opening bell. While investors generally expect a rate cut the next Federal Reserve meeting on Tuesday, December 11, it is the size of the cut that may be decided following the labor report due in an hour.

Yesterday, U.S. stocks continued their rally as the White House offered a plan to aid the ailing subprime mortgage market and curb home foreclosures. The Dow industrials rose 174 points, or 1.3%, the S&P 500 added 22 points, or 1.5%, and the Nasdaq Composite rose 42 points, or 1.6%.

Economic data will be the focus this morning and into the trading session:
At 8:30 a.m. EST, November non-farm payroll will be reported. Economists expect the labor market to show signs of softness in November. Still, on Wednesday, Associated Data Processing Inc. showed a bigger surge in private-sector hiring and projected that 189,000 jobs were created in November, much higher than what economists have been expecting. This report be a better indication of what's to come this morning. According to Briefing.com, economists are expecting an addition of 70,000 jobs last month, a much lower figure than that 166,000 added jobs shown in October. [Economists surveyed by Thomson predict a 100,000 addition.]

Continue reading Before the bell: Futures edge lower, awaiting jobs data

Before the bell: Futures edge lower, awaiting jobs data originally appeared on BloggingStocks on Fri, 07 Dec 2007 07:49:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredgemstarmurdochmvsnnwspalmFri, 07 Dec 2007 07:49:00 EST<![CDATA[Out with the old: Rupert Murdoch poised to take over at Dow Jones]]>http://www.bloggingstocks.com/2007/12/06/rupert-murdoch-poised-to-take-over-at-dow-jone/http://www.bloggingstocks.com/2007/12/06/rupert-murdoch-poised-to-take-over-at-dow-jone/http://www.bloggingstocks.com/2007/12/06/rupert-murdoch-poised-to-take-over-at-dow-jone/#commentsFiled under: ,

Newsweek is running an article that Dow Jones & Company, Inc. (NYSE: DJ) current CEO, Richard Zannino, is set to relinquish his CEO position of the Wall Street Journal. This comes one week before Rupert Murdoch's News Corporation (NYSE: NWS) is set to assume control over Dow Jones.

This move comes after a contentious battle waged by Murdoch to lobby the Bancroft family to vote their controlling shares in favor of a merger.

The Newsweek article provides some color on this whole process saying, "Fearful that Murdoch might use the Journal as a platform to forward his own business and political views, numerous Dow Jones employees and executives tried to lobby the Bancrofts not to sell. But after Murdoch promised to preserve the Journal's editorial independence, the family decided to take the money and run."

As for Zannino, the ex-fashion industry and retailing executive, Murdoch doesn't seem to have found a place for him in the "new" Dow Jones. But that's OK, don't shed a tear for Zannino. His parting package weighs in at about $19 million, according to the Newsweek

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. He does not own any stocks mentioned.

Out with the old: Rupert Murdoch poised to take over at Dow Jones originally appeared on BloggingStocks on Thu, 06 Dec 2007 17:39:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>djdow jonesDowJonesmergersmurdochnews corpNewsCorpnwsThu, 06 Dec 2007 17:39:00 EST<![CDATA[Dow Jones executives clash with Murdoch over WSJ Online]]>http://www.bloggingstocks.com/2007/11/19/dow-jones-executives-clash-with-murdoch-over-wsj-online/http://www.bloggingstocks.com/2007/11/19/dow-jones-executives-clash-with-murdoch-over-wsj-online/http://www.bloggingstocks.com/2007/11/19/dow-jones-executives-clash-with-murdoch-over-wsj-online/#commentsFiled under: , ,

In what could could be a sign of things to come, Rupert Murdoch and executives at the Dow Jones Company's (NYSE: DJ) Wall Street Journal are trading arguments in the press about the future of the newspaper's online edition.

A few days ago, Murdoch said that he planned to make the Wall Street Journal Online free, and make up for the lost subscription revenue by selling advertising on the site. Given the Journal's status as the premier financial news source, he estimated that he could increase traffic 10- to 15-fold from its current base of about 1 million subscribers.

Well some executives at the paper responded that the "The exclusivity of Journal content provides value beyond the Web site" and that making the Journal free would reduce print subscriptions and cannibalize traffic to other Dow Jones-owned sites.

My hunch is that Murdoch is right -- online advertising is exploding and the idea of a property as valuable as this newspaper getting so little traffic makes me think there's a better way. But regardless of who is right, this is a fight Murdoch will probably win. It's been said before and it's worth saying again: Rupert gets what Rupert wants.

Dow Jones executives clash with Murdoch over WSJ Online originally appeared on BloggingStocks on Mon, 19 Nov 2007 19:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>DJDow JonesDowJonesMurdochNews Corp.NewsCorp.NWSWall Street JournalWallStreetJournalMon, 19 Nov 2007 19:15:00 EST<![CDATA[Rupert Murdoch plans free Wall Street Journal online]]>http://www.bloggingstocks.com/2007/11/13/rupert-murdoch-plans-free-wall-street-journal-online/http://www.bloggingstocks.com/2007/11/13/rupert-murdoch-plans-free-wall-street-journal-online/http://www.bloggingstocks.com/2007/11/13/rupert-murdoch-plans-free-wall-street-journal-online/#commentsFiled under: , , , ,

Wall Street JournalIn a sign that a Rupert Murdoch-controlled Wall Street Journal could be more reader-friendly, the News Corp (NYSE: NWS) CEO says he will make the paper's website free to access. He hopes to make up for the drop in subscription revenue by selling advertising.

According to The New York Times, Mr. Murdoch says, "We are studying it and we expect to make that free, and instead of having 1 million, having at least 10 million-15 million in every corner of the earth."

Exactly. The Wall Street Journal is, by far, the most respected name in financial journalism, and by making it free online, it instantly becomes the number one most-respected business site in the country. There's also a socially responsible side to this move: High school students and other less-affluent followers of business news will have access to the best coverage.

There was a lot of talk about Murdoch's grubby paws ruining The Journal. But if this first move is any indication, he'll be a much better steward than the Bancrofts were.

Rupert Murdoch plans free Wall Street Journal online originally appeared on BloggingStocks on Tue, 13 Nov 2007 14:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>DJDow JonesDowJonesinthenewsMurdochNews Corp.NewsCorp.NWSonline.wsj.comWall Street JournalWallStreetJournalTue, 13 Nov 2007 14:31:00 EST<![CDATA[Rupert Murdoch may get to own TV stations and newspapers in same city]]>http://www.bloggingstocks.com/2007/10/18/rupert-murdoch-may-get-to-own-tv-stations-and-newspapers-in-same/http://www.bloggingstocks.com/2007/10/18/rupert-murdoch-may-get-to-own-tv-stations-and-newspapers-in-same/http://www.bloggingstocks.com/2007/10/18/rupert-murdoch-may-get-to-own-tv-stations-and-newspapers-in-same/#commentsFiled under: , , , ,

Media owners have been chomping at the bit to be able to own both a TV station and a newspaper in the same city. Two major deal makers - Samuel Zell, a Chicago investor who is leading the charge to take the Tribune Company (NYSE: TRB) private, and Rupert Murdoch, Chairman and CEO of News Corp. (NYSE: NWS) who has tried for years to change the rule so he can continue to control both the New York Post and the Fox television station in New York -- hope it happens soon. If the rules change for Zell, he'll be able to own TV stations and newspapers in five cities - New York, Los Angeles, Hartford and the Miami-Fort Lauderdale area.

Well they may get their wish if Federal Communications Commission Chairman Kevin Martin has anything to say about it, according to the New York Times. The Times reports that Martin plans to repeal the decades-old media rule forbidding companies from owning both a newspaper and a TV or radio station in the same city. Right now an $8.2 billion buyout of the Tribune Company is hanging in the balance. Zell wants to take the company from a public to a privately held company by its employees, but the rule is in the way of completing the deal.

Continue reading Rupert Murdoch may get to own TV stations and newspapers in same city

Rupert Murdoch may get to own TV stations and newspapers in same city originally appeared on BloggingStocks on Thu, 18 Oct 2007 08:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Federal Communications CommissionFederalCommunicationsCommissioninthenewsKevin MartinKevinMartinMurdochNews CorpNewsCorpSamuel ZellSamuelZellTribune Co.TribuneCo.Thu, 18 Oct 2007 08:10:00 EST<![CDATA[Dow Jones pulls CNBC ads for FOX Business Network debut]]>http://www.bloggingstocks.com/2007/10/16/dow-jones-pulls-cnbc-adds-for-fox-business-debut/http://www.bloggingstocks.com/2007/10/16/dow-jones-pulls-cnbc-adds-for-fox-business-debut/http://www.bloggingstocks.com/2007/10/16/dow-jones-pulls-cnbc-adds-for-fox-business-debut/#commentsFiled under: , , ,

Sometimes corporate competition can get pretty silly and downright petty, and this would appear to be one of those instances. Rupert Murdoch's News Corp. (NYSE: NWS) rolled out its new Fox Business Network yesterday [subscription required], a few months after the company won its bid to acquire Dow Jones (NYSE: DJ), the parent company of The Wall Street Journal and MarketWatch.

And now, for the corporate espionage. CNBC somehow got Dow Jones to sign a contract allowing the cable business news network to buy all the advertising on Marketwatch.com on Monday, October 15th -- the day that News Corp., the soon to be parent company of Marketwatch, was set to launch its new business network.

According to The Wall Street Journal, "The advertising contract was signed Sept. 11, 2007, and included specific provisions for Oct. 15, the Fox Business Network launch date, according to a copy of the contract reviewed by the Journal. On that date, CNBC agreed to spend $59,500 to buy all of the ad space on Dow Jones's MarketWatch.com site, and agreed to an additional $27,500 to make sure any visitor to MarketWatch's home page would first see an advertisement from CNBC. This is known in ad parlance as a "roadblock."

Then Dow Jones pulled the CNBC ads yesterday, in an apparent attempt to suck-up to Mr. Murdoch -- it's hard to understand why else it would have done that.

All of this interesting and somewhat amusing. The one thing Dow Jones can probably take from it is that it should do a better job reviewing contracts. Shouldn't CNBC's request for October 15th have raised some alarms before the contract was signed?

But in the end, it probably isn't that important. FBN will be able to generate plenty of publicity, and its success or failure will depend on the quality of its content -- not the ads on MarketWatch on the day of its launch.

Dow Jones pulls CNBC ads for FOX Business Network debut originally appeared on BloggingStocks on Tue, 16 Oct 2007 11:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CNBCDJDow JonesDowJonesFoxfox business networkFoxBusinessNetworkinthenewsmarketwatchMurdochNews CorpNewsCorpNWSrupert murdochRupertMurdochwall street journalWallStreetJournalTue, 16 Oct 2007 11:58:00 EST<![CDATA[FT.com to be set free?]]>http://www.bloggingstocks.com/2007/10/01/ft-com-to-be-set-free/http://www.bloggingstocks.com/2007/10/01/ft-com-to-be-set-free/http://www.bloggingstocks.com/2007/10/01/ft-com-to-be-set-free/#commentsFiled under: , , , ,

According to a report in the New York Times (NYSE: NYT), it looks like the Financial Times will provide some degree of free access to its site -- that is, up to 30 articles per month.

Sounds kind of wimpy to me. Why not just provide it all for free? Isn't that the trend?

After all, the NY Times recently ended its subscription service. Murdoch is reportedly mulling the same thing for the Wall Street Journal. And we are also seeing the free-trend in other areas of media, such as television shows.

I talked to Rafi Mohammed about this. He is an expert on pricing and is the author of the book The Art of Pricing. According to him:

"In my business of pricing, all too often I see companies give away value with little hope of any return. However, the recent spate of free giveaways in the media business make sense. Newspapers like the New York Times are offering free access because if they don't, they risk losing relevancy to online news sites like CNN and Yahoo! (NYSE: YHOO). In the case of television, what does it matter if people watch advertisements on their television or on their laptop? Giving away television shows (with advertising) downloads is directly in line with television's current business model."

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

FT.com to be set free? originally appeared on BloggingStocks on Mon, 01 Oct 2007 15:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Financial TimesFinancialTimesFree MediaFreeMediaMurdochNYTNYTimesWSJYHOOMon, 01 Oct 2007 15:45:00 EST<![CDATA[Towel Talk: Where Rupert is right]]>http://www.bloggingstocks.com/2007/06/29/towel-talk-where-rupert-is-right/http://www.bloggingstocks.com/2007/06/29/towel-talk-where-rupert-is-right/http://www.bloggingstocks.com/2007/06/29/towel-talk-where-rupert-is-right/#commentsFiled under: ,

Dow Jones & Company, Inc. (NYSE: DJ)'s Wall Street Journal (a.k.a., The Towel) occupies a unique spot in the media firmament. As I pointed out earlier in the year, it changed its format and now looks to me like a Holiday Inn bath towel. Towel Talk offers a perspective on its news and views.

Rupert Murdoch is right about one thing -- The Towel could save some serious money by getting rid of the dead tree form factor.

The New York Times [registration] quotes Murdoch as saying "What if, at The Journal, we spent $100 million a year hiring all the best business journalists in the world? Say 200 of them. And spent some money on establishing the brand but went global - a great, great newspaper with big, iconic names, outstanding writers, reporters, experts. And then you make it free, online only. No printing plants, no paper, no trucks. How long would it take for the advertising to come? It would be successful, it would work and you'd make a little bit of money."

Continue reading Towel Talk: Where Rupert is right

Towel Talk: Where Rupert is right originally appeared on BloggingStocks on Fri, 29 Jun 2007 10:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>barron'sdjdow jonesDowJonesEric SavitzEricSavitzmurdochnews corpNewsCorpnwsthe wall street journalTheWallStreetJournalFri, 29 Jun 2007 10:40:00 EST<![CDATA[Wall Street Journal reporters walk out: 'Tradition of independence threatened']]>http://www.bloggingstocks.com/2007/06/28/wall-street-journal-reporters-walk-out-tradition-of-independen/http://www.bloggingstocks.com/2007/06/28/wall-street-journal-reporters-walk-out-tradition-of-independen/http://www.bloggingstocks.com/2007/06/28/wall-street-journal-reporters-walk-out-tradition-of-independen/#commentsFiled under: , , , ,

Go to the online Wall Street Journal and (if you're a subscriber) click on the top story. The scoop (right now it's the immigration bill) is being brought to you by the Associated Press.

Why? According to a message posted on Poynter Online and released by the Newspaper Guild, the entire U.S. reporting staff of the Wall Street Journal is staging a walk-out (or a not-show-up, I guess). "The Wall Street Journal's long tradition of independence, which has been the hallmark of our news coverage for decades, is threatened today. We, along with hundreds of other Dow Jones employees represented by the Independent Association of Publishers' Employees, want to demonstrate our conviction that the Journal's editorial integrity depends on an owner committed to journalistic independence," they write.

Wall Street Journal parent Dow Jones & Company Inc (NYSE: DJ) is close to closing a deal with rowdy potential daddy News Corporation (NYSE: NWS). The reporters are evidently worried about being handed pink slips when the deal goes through; they say this step is a reminder to "Dow Jones management that the quality of its publications depends on a top-quality professional staff." They'll be back at their desks this afternoon.

I guess a real news hound can't stand missing a whole day's worth of news. Interestingly, the bloggers are still on duty, though it appears my most-read, David Gaffen, is on vacation this week.

Wall Street Journal reporters walk out: 'Tradition of independence threatened' originally appeared on BloggingStocks on Thu, 28 Jun 2007 11:54:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dowdow jonesDowJonesmurdochstrikewalk outwalk-outWalkOutwall street journalWallStreetJournalwsjwsj strikewsj walk-outWsjStrikeWsjWalk-outThu, 28 Jun 2007 11:54:00 EST<![CDATA[Newspaper wrap-up 6-25-07: eBay takes Google's AdWords back]]>http://www.bloggingstocks.com/2007/06/25/newspaper-wrap-up-6-25-07-ebay-takes-googles-adwords-back/http://www.bloggingstocks.com/2007/06/25/newspaper-wrap-up-6-25-07-ebay-takes-googles-adwords-back/http://www.bloggingstocks.com/2007/06/25/newspaper-wrap-up-6-25-07-ebay-takes-googles-adwords-back/#commentsFiled under: , , , , , ,

MAJOR PAPERS:
  • The Wall Street Journal (subscription required) reported that online auctioneer eBay Inc (NASDAQ: EBAY) has resumed advertising with Google Inc (NASDAQ: GOOG), after having pulled its ads to prove that it didn't need to spend as heavily on Google's AdWords.
  • The Financial Times reported that some inside and outside of Lazard Ltd (NYSE: LAZ) are questioning if CEO Bruce Wassertein has given the company a sustainable model that will be able to thrive without the current "dealmaking binge."
  • According to the Financial Times, citing people familiar with the situation, News Corporation's (NYSE: NWS) Rupert Murdoch is looking beyond its $5B offer for Dow Jones and Company Inc (NYSE: DJ) in search of Internet acquisitions or a deal involving MySpace.
OTHER PAPERS:
  • Also concerning News Corp and Dow Jones, the U.K. Times reported that the Bancroft family, which controls Dow Jones, asked late Friday for two seats on News Corp's board, which is one more than Rupert Murdoch has been willing to offer.
  • General Electric Company (NYSE: GE) is seeking to build a diesel locomotive plant in India, in partnership with Indian railway companies, reported Business Standard.
  • Yediot Ahronot reported that Nice Systems Limited (NASDAQ: NICE) is in talks to acquire Actimize for $280M.

Newspaper wrap-up 6-25-07: eBay takes Google's AdWords back originally appeared on BloggingStocks on Mon, 25 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>actimizeadwordsbancroftbusiness standardBusinessStandarddjdow jonesDowJonesebayfinancial timesFinancialTimesftgegeneral electricGeneralElectricgooggoogleindialazlazardlondon timesLondonTimesmurdochmyspacenews corpNewsCorpnewspapernicenwspaperperiodicaluk timesUkTimeswall street journalWallStreetJournalwsjyediot ahronotYediotAhronotMon, 25 Jun 2007 09:15:00 EST<![CDATA[The greatest 21st century media drama (so far)]]>http://www.bloggingstocks.com/2007/06/21/the-greatest-21st-century-media-drama-so-far/http://www.bloggingstocks.com/2007/06/21/the-greatest-21st-century-media-drama-so-far/http://www.bloggingstocks.com/2007/06/21/the-greatest-21st-century-media-drama-so-far/#commentsFiled under: , , , , , ,

Although the initial analysis suggests that the decision by the Board of Directors of Dow Jones (NYSE: DJ) to take over the negotiations with News Corp (NYSE: NWS) from the Bancroft family represents a development that is likely to speed any deal between the two, whether any deal comes to fruition remains an open question - due to the number of players and coalitions surrounding this most consequential of potential media deals, the instant-analysis of The Wall Street Journal notwithstanding.

The Wall Street Journal Wednesday night reported -- but cited no sources -- that the Board's move "is likely to speed any deal between News Corp. and Dow Jones," owner of The Wall Street Journal. Left unsaid is exactly why the board's Wednesday decision would speed any deal.

In a statement released after Wednesday's market close, the Dow Jones board of directors said it would "take the lead in addressing all aspects of the [News Corp] proposal and all other strategic alternatives, including remaining independent." Further, the board "reiterated that any transaction must include appropriate provisions with respect to journalistic and editorial independence and integrity."

Read one way, the above passage could mean that the board is taking the lead in addressing the News Corp proposal. Read another way it could also mean that the board is weighing other proposals. Wednesday night's Journal news story implied that the board's decision would speed any deal, if, in fact a deal is in the making, but the Journal did not state, nor offer sources, confirming that a DJ/News Corp deal was, in fact, in the making.

Meanwhile, General Electric (NYSE: GE) and Pearson Plc Wednesday continued to discuss plans whereby the two would forward an alternate proposal to the Bancrofts (and now, presumably, to Dow Jones' board of directors) - a plan that would grant the Bancrofts a larger minority stake and a stronger editorial voice in the new entity.

Continue reading The greatest 21st century media drama (so far)

The greatest 21st century media drama (so far) originally appeared on BloggingStocks on Thu, 21 Jun 2007 08:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bancroftdjDowJonesgeGeneralElectricmurdochNewsCorpnwspearsonThu, 21 Jun 2007 08:40:00 EST<![CDATA[This week's rumor round-up: Will News Corp pull its offer for Dow Jones?]]>http://www.bloggingstocks.com/2007/06/15/this-weeks-rumor-round-up-will-news-corp-pull-its-offer-for-do/http://www.bloggingstocks.com/2007/06/15/this-weeks-rumor-round-up-will-news-corp-pull-its-offer-for-do/http://www.bloggingstocks.com/2007/06/15/this-weeks-rumor-round-up-will-news-corp-pull-its-offer-for-do/#commentsFiled under: , , , , , , , , , , ,

DOW JONES & COMPANY (NYSE: DJ)

Could it happen? Could News Corporation (NYSE: NWS) pull its offer? They could, and the fear is absolutely there. That's why the stock has fallen. For one, the Bancroft family, which controls the majority of Dow Jones' shares, hasn't formally accepted Rupert Murdoch's $5B, $60 a share offer. And no one else has come forward with a competing bid. But it does seem that both sides are moving together in the same direction. Okay, but somebody should make up their mind -- either way -- and stop fiddling around.

EXPEDIA INC (NASDAQ: EXPE), IAC/INTERACTIVECORP (NASDAQ: IACI)

Barry Diller is back at it. The chairman and CEO of IAC/InteractiveCorp, who is also chairman of the board and a senior advisor to Expedia, is working to take online travel firm Expedia private at $30 a share. Part of any deal will involve Expedia's TripAdvisor being spun off with about 400 jobs being lost in that shuffle.

PENN NATIONAL GAMING INC (NASDAQ: PENN)

After many, many laps around the track, this race is over, as race track and casino operator Penn agreed to be acquired today by Fortress Investment Group LLC (NYSE: FIG) and private equity firm Centerbridge Partners. All cash, baby, in a deal worth $8.9B that includes $2.8B of assumed debt. Everyone to the Winner's Circle.

Continue reading This week's rumor round-up: Will News Corp pull its offer for Dow Jones?

This week's rumor round-up: Will News Corp pull its offer for Dow Jones? originally appeared on BloggingStocks on Fri, 15 Jun 2007 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AAAlcoaBarry DillerBarryDillerBuffettCenterbridge PartnersCenterbridgePartnersCHAPChaparrel SteelChaparrelSteelCRMDealsDillerDJDow JonesDowJonesEXPEExpediaFIGFortress Investment GroupFortressInvestmentGroupGerdauGGBGOOGGoogleHBCHSBCHSBC HoldingsHsbcHoldingsIAC/InterActiveIACIIBNICICIICICI BankIciciBankInterActiveInternational RectifierInternationalRectifierIRFMurdochNews CorpNewsCorpNucorNucor CorpNucorCorpNUEPDL BiopharmaPdlBiopharmaPDLIPENNPenn National GamingPennNationalGamingprivate equityPrivateEquityRio TintoRioTintoRTPrumorsSalesforce.comTripAdvisorUSGUSG CorpUsgCorpFri, 15 Jun 2007 15:30:00 EST<![CDATA[Pearson: Murdoch's Plan B?]]>http://www.bloggingstocks.com/2007/05/21/pearson-murdochs-backup-date/http://www.bloggingstocks.com/2007/05/21/pearson-murdochs-backup-date/http://www.bloggingstocks.com/2007/05/21/pearson-murdochs-backup-date/#commentsFiled under: ,

The powerful head of News Corp (NYSE: NWS.A), Rupert Murdoch, has been doggedly pursuing The Wall Street Journal these past few weeks, but the Journal's controlling family, the Bancrofts, keep rebuffing his advances (that come in the form of a $5 billion takeover bid). In a letter Murdoch sent them last weekend, apparently one of the many assurances he made to the family was the vow to bolster The Wall Street Journal's presence in Europe. This would require bringing down the market share leader, the Financial Times, owned by Pearson PLC (ADR) (NYSE: PSO).

This UK-based education and information company publishes textbooks throughout the world, as well as books through the respected publishing imprint Penguin Group, among other imprints, and publishes the Financial Times, along with other business newspapers, magazines, and specialist information.

Rumor has it that the impressive and highly respected head of Pearson, Marjorie Scardino, has always insisted that the Financial Times isn't for sale. But if Murdoch indeed buys the WSJ, she might be tempted to sell the FT after all. When Murdoch promises to beat the competition, he often succeeds. The share price of Pearson has wavered on fears of what will happen to the Financial Times should the WSJ change hands.

Continue reading Pearson: Murdoch's Plan B?

Pearson: Murdoch's Plan B? originally appeared on BloggingStocks on Mon, 21 May 2007 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Bancroft FamilyBancroftFamilyFTHilary on StocksHilaryOnStocksMurdochNWSPSOWSJMon, 21 May 2007 09:30:00 EST<![CDATA[The Murdoch media empire meets Citizen(s) Kane]]>http://www.bloggingstocks.com/2007/05/10/the-murdoch-media-empire-meets-citizen-s-kane/http://www.bloggingstocks.com/2007/05/10/the-murdoch-media-empire-meets-citizen-s-kane/http://www.bloggingstocks.com/2007/05/10/the-murdoch-media-empire-meets-citizen-s-kane/#commentsFiled under: , , , , , , , , , , ,

Rupert Murdoch's latest facts-and-oration session notwithstanding, the current conventional wisdom in the Concrete Canyon of Wall Street is that the Bancroft family that controls Dow Jones (NYSE: DJ) will reject any offer forwarded by the News Corp (NYSE: NWS).

It's been said that everyone has his or her price, but Wall Street does not see Murdoch forwarding a "beyond-generous" offer. Indeed, there is a growing sense on the Street that a News Corp. takeover of Dow Jones simply represents a bad fit. In Thursday afternoon trading, Dow Jones was down 61cents to $51.59 while News Corp was down 19 cents to $23.07.

News Corp., which has forwarded a $60 per share offer for Dow Jones, is eying DJ as part of a plan to substantially increase business news content ahead of a much-bantered launch of a business news channel to compete with CNBC, owned by General Electric (NYSE: GE).

However, Murdoch's operations and news/publishing decisions display little evidence that the multi-platform media conglomerate will adeptly deploy any Dow Jones assets acquired. Murdoch's operation has emphasized the brief and the glib, and in some cases superficial and sensational coverage of news events, and has kept earnings at the forefront. Meanwhile, The Wall Street Journal, owned by Dow Jones, has served as the industry standard for incisive and sophisticated business news coverage for more than 30 years. Further, as the Bancrofts could probably attest, the Dow Jones organization has routinely sacrificed the bottom line if news coverage required it to do so. Given the canyon-sized gap in content and operationally philosophy between the two organizations, a News Corp / Dow Jones combination is hard to reconcile.

Continue reading The Murdoch media empire meets Citizen(s) Kane

The Murdoch media empire meets Citizen(s) Kane originally appeared on BloggingStocks on Thu, 10 May 2007 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>DJDowJonesMurdochNewsCorpnewspapersNWSThu, 10 May 2007 16:20:00 EST