James Stewart, The New York Times, reflects on the tumultuous week on Wall Street and discusses his long-term investment strategy.» Read More
The Bancroft family is opposing News Corp.'s unsolicited bid of $60 a share, or about $5 billion, for Dow Jones, owner of the Wall Street Journal. A representative of the Bancroft family said that members and trusts representing slightly more than 50% of the voting shares will vote against the News Corp. offer.
Media empire builder Rupert Murdoch may want Dow Jones for its editorial content and clout rather than any extra dollars the acquisition would add to News Corp.'s bottom line, CNBC's Julia Boorstin reports.
CNBC-TV had it's five for five segment today--that's where they look at five stocks making news this week. It's pretty much based on earnings. Jon Hilsenrath, editor at the WSJ was the guest to talk about the stocks. Again, these are not recommendations for the contest (or your personal portfolio) but more along the lines of what stocks could have a jump up or down.
Israeli conglomerate Africa Israel Investments said a wholly owned subsidiary would buy the Manhattan building which currently houses the New York Times for $525 million.
On the heels of News Corp doubling the cost of his tabloid, the New York Post -- which is bleeding $70 million dollars annually -- Rupert Murdoch is looking for a plan. The mogul is gathering his top news executives in his Northern California Ranch next week for a three-day confab on how to transition his newspaper empire to the digital age.
Former General Electric chief Jack Welch said it was clear the management of New York Times Co. had "no interest" in selling its Boston Globe newspaper.
In a sign that the New York Times may be trying to appease investors who have criticized it, the newspaper publisher invited Morgan Stanley money manager Hassan Elmasry and another large shareholder, T. Rowe Price Group, to make presentations to its board of directors late last month, The Wall Street Journal reported.
The New York Times said it sold its broadcast media group for $575 million to Oak Hill Capital Partners in order to concentrate on its newspaper business.
I jinxed myself. That closing statement in my last posting about things quieting down on the beat: fuggedaboutit. Yesterday and today, "The New York Times" ran above-the-fold, front-page stories on Lilly's marketing of Zyprexa. It's the company's top-selling drug and its biggest profit-maker -- analysts estimate the schizophrenia/bipolar disorder drug is responsible for one-third to as much as one-half of the company's bottom line.
Turning a new page on a story buzzing around Wall Street this week--could the New York Times company go private? A BusinessWeek article says former AIG chief Hank Greenberg --who is linked to the rumors--is just looking for some attention. On this morning’s "Squawk Box" Carl Quintanilla spoke with Jon Fine--Media Columnist for BusinessWeek.