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Rupert Murdoch: Dow Jones
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Since the sale of Dow Jones to Rupert Murdoch, there has been speculation that Marcus Brauchli may have to audition for his job as managing editor of the Wall Street Journal all over again. Murdoch is said to be eyeing Robert Thomson, editor of News Corp.'s Sunday Times of London.
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Rupert Murdoch's News Corp is not in discussions with Europe's biggest media company Bertelsmann AG or any other party on the sale of its book publisher HarperCollins, a News Corp source said, shooting down a published report. German business weekly
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For months now, Rupert Murdoch's quest for Dow Jones has riveted the business world. But another juicy melodrama is unfolding at News Corp., one that may shed some light on how the $25 billion company sometimes does business.
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In the last few months, Rupert Murdoch has moved into an office at Dow Jones & Company, publisher of The Wall Street Journal. He has pushed the paper's editors for shorter articles and more hard news.
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News Corp’s Rupert Murdoch sat down with the NY Times to explain why he wants to own Dow Jones and what he would do with the Wall Street Journal. “We’re not coming in with a bunch of cost-cutters,” he said, but added: “I’m not saying it’s going to be a holiday camp for everybody.” Murdoch revealed that he would use the Wall Street Journal brand as the name for Fox’s upcoming business channel, and he said he would like to meet with members of the Bancroft family. “I think the next step for us is to be patient — and to be available at anytime should they respond to my suggestion for a meeting.” A Dow Jones trustee said 52 percent of the shares in the Bancroft family are opposed to selling, yet the company has not rejected the bid outright.
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The elder Murdoch's unexpected death in 1952 forced Rupert to return Down Under to take the helm of his father's newspaper business. Beginning with ownership of the Adelaide News, young Murdoch quickly bought up several more daily newspapers. The acquisition of Sydney's Daily Mirror in particular helped establish his company as a major player in Australian newspaper publishing. During this period, Rupert married his first wife, Patricia Booker, in 1956. The couple had a daughter, Prudence, before divorcing in 1967.
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