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