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| Version 1 | Version 2 |
|---|---|
| News Corp tables shock Dow offer | News Corp tables shock Dow offer |
| (30 minutes later) | |
| Shares in Dow Jones have surged after Rupert Murdoch's media company News Corp made a bid for the newspaper firm that values it at about $5bn (£2.5bn). | Shares in Dow Jones have surged after Rupert Murdoch's media company News Corp made a bid for the newspaper firm that values it at about $5bn (£2.5bn). |
| Dow Jones confirmed reports that News Corp tabled a surprise $60 a share offer in a letter two weeks ago. | Dow Jones confirmed reports that News Corp tabled a surprise $60 a share offer in a letter two weeks ago. |
| Analysts said the move was bold and would be taken seriously by investors. | Analysts said the move was bold and would be taken seriously by investors. |
| Dow Jones is one of the world's biggest news companies, controlling the Wall Street Journal, Barron's, Marketwatch, the Dow wire services, and Factiva. | Dow Jones is one of the world's biggest news companies, controlling the Wall Street Journal, Barron's, Marketwatch, the Dow wire services, and Factiva. |
| While News said it had made "a friendly offer", Dow Jones described the move as "an unsolicited proposal". | |
| Cost-cutting potential | Cost-cutting potential |
| While many of the world's top newspapers have struggled to move into a more digital age, the Wall Street Journal is one of a few that has managed to build a successful subscription-based online service. | While many of the world's top newspapers have struggled to move into a more digital age, the Wall Street Journal is one of a few that has managed to build a successful subscription-based online service. |
| Even so, the company's shares have been under pressure as investors have questioned the outlook for an industry that relies so heavily on advertising revenues. | Even so, the company's shares have been under pressure as investors have questioned the outlook for an industry that relies so heavily on advertising revenues. |
| Analysts said that News Corp, owner of The Sun and The Times in the UK, would only have made the offer if it believed that it could merge the two businesses and significantly cut costs. | Analysts said that News Corp, owner of The Sun and The Times in the UK, would only have made the offer if it believed that it could merge the two businesses and significantly cut costs. |
| Dow Jones said its board and the trustees of the Bancroft family, which control most of the company's voting power, were considering the offer. | Dow Jones said its board and the trustees of the Bancroft family, which control most of the company's voting power, were considering the offer. |
| However, the company warned that there "can be no assurance that this evaluation will lead to any transaction". | However, the company warned that there "can be no assurance that this evaluation will lead to any transaction". |