Rupert Murdoch on Wednesday said he had been willing to endure “criticism normally levelled at a genocidal tyrant” during his three-month battle to acquire Dow Jones because he was so convinced that Dow Jones and News Corp were a “perfect fit” for a digital age. Mr Murdoch, speaking after the release of News Corp results, said the deal would position News Corp to “become the strongest company in the world in both information and entertainment”. He indicated he had plans for all parts of Dow Jones, and said savings “well in excess of $50m” could be made from integrating News Corp and Dow Jones operations. The $5.6bn deal needs regulatory authorisation and approval by all Dow Jones shareholders, but is expected to be completed within three months. News Corp saw Q4 net income rise 4.5 per cent to $890m on higher advertising sales and affiliate revenue, reports Reuters.

This entry was posted by Gwen Robinson on Thursday, August 9th, 2007 at 5:44 and is filed under Capital markets, M&A, People. Tagged with dow jones, news corp, rupert murdoch. Edit this entry.