Posted in Acquisitions on July 17, 2007|
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It has been quite an evening for the world of business media. First came news that News Corp. has reached a tentative agreement for the purchase of Dow Jones & Co. at its original $5 billion offer price. The deal is going before the full Dow Jones board this evening for its approval, according to the New York Times.
This means News Corp’s Rupert Murdoch, already a significant media mogul, will now likely own the venerable Wall Street Journal, America’s most respected business publication. WSJ reporters will be walking around dazed by this. Many expressed disdain for Murdoch, saying he holds his own publications to lower standards than those of the WSJ.
Finally, we note that citizens journalism efforts are also having a tough time, and people are trying to draw lessons. source
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Posted in Acquisitions on July 16, 2007|
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US-based Internet giants such as Google and Yahoo are eyeing Rediff.com India Ltd, which runs one of India’s most popular consumer Internet portals, for a possible acquisition. Investment banking sources told Hindustan Times that the management of Nasdaq-listed Rediff was in talks with the global companies for a negotiated takeover deal.
Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas.
The sources said if the deal comes through, the valuation may be close to a billion US dollars.
The company’s revenues increased 66 per cent to $8.48 million from $5.11 million in the same quarter of last year. India Online revenues, which include advertising and fee-based revenues, jumped 76 per cent to $6.30 million from $3.57 million in the year-ago quarter, while US Publishing revenues were $2.18 million, up 42 per cent from $1.54 million a year earlier.
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