Acquisitions

I should pay attention to my advices more often. I gave some more clicks and found out news about the sale of Dow Jones & Co to Murdoch's News corp. After facing strong opposition from the Bancroft family that owned for generations Dow Jones, the deal was finally sealed and made public Wednesday morning (rumor has it that it was around 5 billion dollars). The purpose of Murdoch was to expand the already massive global media and entertainment empire by acquiring one of the great trophies of US journalism. The Bancroft family was divided by the whole deal. Some members have resigned before it was completed. They feared that the quality and integrity of the newspaper will suffer. Although it was believed that Bancroft will not sell after the market established his price of $60 per share they gave a favorable answer to the industry mogul. Murdoch intentions are to invest in the new acquisition and expand its domestic readership (the business and power elite) by buying two more US national newspapers, The New York Times and Gannett Co's USA Today. Also Wall Street Journal will be an opponent against other publication like Pearson PLC's Financial Times, by expanding its publication overseas. Murdoch hopes Dow Jones' news resources and brand name will help to start and promote a business-themed cable news channel he plans to release. After assuring the employees union that he will not interfere in the paper's newsroom, the new owner made a five-member board with members from News Corp. and Dow Jones with the task to hire and fire senior editorial officials. So all the doubts about why the Post hasn't made a big fuss over the deal are clarified because the situation is already unsteady and there is no time to brag. Nice to know that clicking is getting you somewhere, down to the bottom of the truth. Enjoy!

related story: http://economictimes.indiatimes.com/News/International__Business/Murdoch_seals_Rs_5_bn_WSJ_deal/articleshow/2249449.cms

by Claudia Sonea for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing people to easily talk, view, upload and share through free online TV broadcasting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Miroslava Turnova

Labels: Acquisitions, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom