Dow Jones & Co. Inc. (DJ)
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loading ...Recent DJ Articles
- Memo to Print: It’s the Multiples
- Newspaper Circulation: WSJ, USA Today Manage To Buck Trend
- How Murdoch Cheated on the WSJ Independence Pact
- WSJ Shake-Up: The Morning After
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- Whoah! WSJ.com Quietly Makes Big Traffic Strides
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Cook, Jr.
Murdoch to Meet Bancrofts Monday [view article]
Your post speaks to several of the compelling issues in the strained courtship between the Bancroft family members, their advisors and Rupert Murdoch. But it doesn't address the fundamental question related to this deal: is Dow Jones & Company Inc. actually undervalued by investors? My analysis suggests the answer is yes. Under Mr. Murdoch's leadership DJ may even be worth $75 a share. Check out "Dow Jones: Anomaly or Hidden Value" at www.customersandcapita... ReplyCook, Jr.
Dow Jones Arbitrage Play Pays Off [view article]
Your post speaks to several of the compelling issues in the strained courtship between the Bancroft family members, their advisors and Rupert Murdoch. But it doesn't address the fundamental question related to this deal: is Dow Jones & Company Inc. actually undervalued by investors? My analysis suggests the answer is yes. Under Mr. Murdoch's leadership DJ may even be worth $75 a share. Check out "Dow Jones: Anomaly or Hidden Value" at www.customersandcapita... ReplyCook, Jr.
Dow Jones' Bancroft Family Backtracks -- Says It Will Meet With News Corp. [view article]
Here's a new take on a hot story: "Dow Jones: Anomaly or Hidden Value?" Check it out at www.customersandcapita.../ ReplyThe Bancrofts Soften On Selling Dow Jones: Journalistic Integrity Claims Are A Red Herring [view article]
Journalistic integrity is only a "red herring" to people who don't care about journalistic integrity. To those of us who have actually been awake over the last 6 years and seen how Roger Ailes has turned News Corp's Fox into a propaganda engine for an authoritarian regime, journalistic integrity matters more than anything. The press was given a protected space in the Constitution because it serves a vital public function and has responsibilities higher than merely making lots of money for private parties. There are people in the business community who have been so accustomed to thinking of media like publishing or radio as merely profit-making enterprises that they forget the public functions they serve. Sirius and XM are finding out the hard way that public passion about "journalistic integrity" is genuine and not simply static... ReplyThe Bancrofts Soften On Selling Dow Jones: Journalistic Integrity Claims Are A Red Herring [view article]
Well sure. I said last night that big media news is synonymous with lies. People don't turn on the news to be lied to. What's the other half of the story? Who are these wackjobs they interview? If I heard endless news about a stripper who lied about Duke lacrosse players in a case that was ultimately dropped, what wasn't I hearing?The Internet gives a chance at reputable reporting. Big media is just too slimy to recover. The reputations are lost. News over the Internet without reputed, established ties to propaganda is the only thing that has a chance to be worth hearing for those educated enough to know the fallacies of logic, like the author of this article. Reply
Dow Jones: The End Is Near [view article]
Eric,Although I appreciate and understand based on your disclosure your perspective on this issue, I don't read the news release (via WSJ) the same way as you do.
I read it as pressure from other shareholders and possibly family members is growing or opinions continue to be strongly voiced and that they are effectively although indirectly soliciting the marketplace for alternatives to the News Corp deal.
If I was Viacom, Time Warner or any of the other media giants I would look at this statement as a welcome invitation to make an offer.
If the WSJ were a weak company I would even go so far as to call this a cry for help.
Also could this move be part of a trend as Thompson is now buying Reuters and before you respond to my apparent ignorance yes I get that Reuters isn't the same type of product. Reply
Bancrofts: By The Third Generation, The Brains Are Bred Out [view article]
Amen. ReplyBancrofts: By The Third Generation, The Brains Are Bred Out [view article]
When you have all the money in the world there are some things in life more important than money. Murdoch's business model is to take news companies and turn them into propaganda outlets without controls or standards. If what's been done to the editorial page of the WSJ spills over onto its news pages, there won't be anything left worth reading, but it will still be dangerous for our future that it be there for the ignorant to mistake for news. I don't much care what happens to the Bancrofts or their fortune, but I care deeply that the Rove/Ailes/Murdoch propaganda machine not turn our national media into a worldwide joke for generations to come. ReplyMurdoch's 'Editorial Suicide' Bodes Poorly For Dow Jones Merger [view article]
I'll never forget OJ Simpson getting a load of money and that smear campaign Murdoch orchestrated to make a scape goat out of somebody other than him for enriching a murderer. ReplyMurdoch's 'Editorial Suicide' Bodes Poorly For Dow Jones Merger [view article]
Murdoch can be rightly criticized till the cows come home about letting Ailes turn Fox News into a propaganda agency, but the New York Post is the original American tabloid and nobody should even feign surprise at this development or think that it reveals anything new about Murdoch. The only respect in which Murdoch's character comes into question is in his decision to even own the Post; beyond that, the Post is what it is. And half the traders on the floor patronize the clubs in question and read the Post as though it were news, so it's surprising the story made the price go down--scandal should be an uptake, not a downtick for a tabloid... ReplyDow Jones' Sleeping Independent Directors [view article]
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Is Dow Jones An Attractive Arbitrage Play? [view article]
The WSJ has the most conservative editorial page of any major newspaper, so I don't think that is their worry. It's more likely they don't want the WSJ to end up looking even 1% like the NY Post. ReplyDow Jones, New York Times, Cablevision: What About Fiduciary Duty? [view article]
Good article and I agree, but I have another prism on Fiduciary duties and these involve short term decisionmaking to pay off activist shareholders that then damage the long term prospects for these public companies. Don't get me wrong, activists play an important role, but boards need to weigh these decisions carefully. A solution in my mind is for these investors to acheive their objectives they press upon the board and therefore must then agree to a minimum holding period on their stocks, to ensure interests are aligned. In my mind these people are only temporary owners moving from one arbritrage play to the next. ReplyDon't Dow Jones' Bancrofts Have a Fiduciary Duty to Shareholders? [view article]
Directors and Officers have a fiduciary duty. They must act in the best interest of the company (and subsequently, its owners).The Bancrofts have NO fiduciary duty. They ARE the owners.
There are laws that protect minority shareholders from the abuse of majority holders, in some cases. So the Bancrofts could get sued by minority shareholders if they did abused their power. I don't know enough about the law on this but I'm fairly sure that turning down a buyout bid doesn't qualify for this type of protection.
The real question here is to what extent do the Directors have a duty to the minority shareholders? You must remember there are multiple Bancrofts and they don't always agree. Should the Board of Directors hold a shareholder vote? The real question is how do their obligations to the various shareholders change as this whole situation develops and the Bancrofts have opposing views (even within the family). Reply
Jackson
Newspaper Stocks Climb on Dow Jones Bid [view article]
Dow Jones has unique content, powerful brands, excellent management and a significant online presence, factors which are not necessarily true for some of the other newspaper stocks. My guess is that some of these stocks will trade back down. Remember also that the Tribune bid was at a low premium, so the newspaper space generally isn't exactly a bidding battlefield.And look at what Bill Nygren recently wrote about newspaper stocks.
Full disclosure: short LEE. Reply