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Murdoch Has 'Good Chance' of Winning Dow Jones, Analyst Says

Wednesday, 2 May 2007 | 10:47 AM ET

Rupert Murdoch has "a pretty good chance of winning" ownership of Dow Jones. So says Edward Atorino, managing director of advertising and publishing analysis firm Benchmark. He joined "Squawk on the Street" to discuss the News Corp. bid and its affect -- if any -- on the news industry as a whole.

Ripple Effects of Murdoch's Bid
Discussing whether Murdoch's bid for Dow Jones could cause ripple effects across the newspaper space, with Edward Atorino, Benchmark Co. publishing analyst, and CNBC's Mark Haines

Atorino told CNBC's Mark Haines that the $60-per-share bid was a "brilliant strategic move" by Murdoch to bolster his media empire. He doesn't expect many ripples from the "very company-specific" bid, which doesn't have "any direct bearing on other newspaper companies at all."

As to the initial rejection of the bid by the Bancroft family, which controls 64% of Dow Jones' voting shares, Atorino said "there may be other family members who don't have much affinity or loyalty or identity with Dow Jones and The Wall Street Journal" -- family members "who might like some cash to do other things."

Atorino paraphrased N.Y. Yankees great Yogi Berra: "It's never over 'til it's over."

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