This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6923474.stm

The article has changed 12 times. There is an RSS feed of changes available.

Version 7 Version 8
Murdoch wins control of Dow Jones Murdoch wins fight for Dow Jones
(about 4 hours later)
Media tycoon Rupert Murdoch has won his battle to take over the American media giant Dow Jones, publisher of the Wall Street Journal (WSJ). Media tycoon Rupert Murdoch has won his battle to buy US media giant Dow Jones, publisher of the Wall Street Journal.
It is believed his News Corporation company has paid $5bn (£2.6bn) to secure the deal. His News Corporation firm has secured the deal for $5.6bn (£2.7bn), or $60 a share - a 65% premium to Dow's share price before the bid was announced.
Correspondents say the widely respected WSJ is regarded as America's leading business newspaper. The agreement comes after Mr Murdoch received the required level of support from the Bancroft family, which hold the majority of Dow Jones' shares.
Mr Murdoch overcame concerns that the editorial independence of the newspaper would be threatened under his control. It ends the Bancroft's 100-year stewardship of the Dow Jones.
He agreed to set up an independent panel to oversee the hiring and firing of staff. One of the members of the family, Leslie Hill, reportedly quit on Tuesday as a Dow Jones director as the final deal took shape.
'Paying the price'
The deal had to be approved by the boards of both Mr Murdoch's News Corporation company and Dow Jones.
It ends months of disagreement between Mr Murdoch and the Bancroft family, who have owned the parent company, Dow Jones, for 100 years.
One of them, Leslie Hill, reportedly quit on Tuesday as a Dow Jones director as the final deal took shape.
News Corporation already owns 100 other newspapers worldwide
But another Bancroft descendant, Crawford Hill, urged fellow family members to vote for a sale last week.But another Bancroft descendant, Crawford Hill, urged fellow family members to vote for a sale last week.
He said the family had not taken an active enough role in overseeing Dow Jones and was now "paying the price for our passivity over the past 25 years".He said the family had not taken an active enough role in overseeing Dow Jones and was now "paying the price for our passivity over the past 25 years".
Further takeovers
Dow Jones shares rose sharply on Tuesday on the back of hopes that a deal was close, moving closer to Mr Murdoch's offer price of $60 (£30) a share.Dow Jones shares rose sharply on Tuesday on the back of hopes that a deal was close, moving closer to Mr Murdoch's offer price of $60 (£30) a share.
The BBC's Duncan Kennedy, in Washington, says Mr Murdoch wants to use the WSJ to take on newspapers like the UK's Financial Times.The BBC's Duncan Kennedy, in Washington, says Mr Murdoch wants to use the WSJ to take on newspapers like the UK's Financial Times.
His News Corporation already owns 100 other newspapers worldwide, as well as television stations and film studios.His News Corporation already owns 100 other newspapers worldwide, as well as television stations and film studios.
Adding the WSJ, our correspondent says, will give Mr Murdoch further access to the top table of influential publications and, he hopes, the profits to match.Adding the WSJ, our correspondent says, will give Mr Murdoch further access to the top table of influential publications and, he hopes, the profits to match.