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Revolving Door Newsletter: 07.17.07
Move Over Bancrofts, Murdoch's Time Draws NearJuly 17, 2007
Our long media nightmare is almost over: Dow Jones has tentatively accepted Rupert Murdoch's $5 billion bid to buy the company. The next steps include taking the deal to the Bancroft family and the full board, but if anyone still believes that Murdoch and News Corp. won't complete this deal, we'd like to see a show of hands. If Wall Street Journal staffers weren't running for the exits before, they surely will be now... Bearing tidings of more bad news, The New York Times reports this morning that Time Inc. is considering shutting down never-profitable Business ...