Wednesday, July 18, 2007

Is Dow Jones at the 'USS Missouri' Just Yet?

I know, I know, I've said in the past that Rupert Murdoch's acquisition of Dow Jones is a foregone conclusion. I've illustrated that point with old photos of the Japanese surrender on the USS Missouri, in my usual understated way.

Still, the Wall Street Journal article today leaves me wondering if the long-awaited Unconditional Surrender is actually happening.

Yes, the board of directors last night voted to recommend the merger.

Yes, the votes seem to be there.

But then we get the following in the Journal article today:

As of yesterday afternoon two of the company's family directors were actively engaged in pursuing alternatives to Mr. Murdoch, according to people familiar with the matter. Christopher Bancroft has been talking to Internet entrepreneur Brad Greenspan about a proposal to buy a portion of the company. Mr. Greenspan, who has talked to other family members, was working on a more detailed proposal to send to Dow Jones representatives yesterday and is looking for investors, according to a person familiar with the matter. Mr. Greenspan is working with advisers at New York firm Dinosaur Securities.
I know, this is desperate and probably doomed to failure. But...... I still wonder if we are at that "USS Missouri moment" just yet.

© 2007 Gary Weiss. All rights reserved.

Digg my article


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site,

Labels: , , ,

Links to this post:

Create a Link

<< Home

Enter your email address:

Delivered by FeedBurner