M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Tuesday, May 1, 2007

Schadenfreude

Andrew Ross Sorkin over at the New York Times was kind enough to make six posts today on News Corp.'s news-breaking, unsolicited (and apparently already ill-fated) offer to purchase the Wall Street Journal's publisher, Dow Jones.  In fact, for eight hours it was the only thing those Times bloggers could write about.  For those who are counting, the posts (in reverse chronological order) were:

News Corp. Bids $5 Billion for Dow Jones

Newspaper Stocks Feel the ‘Murdoch Effect’

Will $5 Billion Persuade Dow Jones’s Owners to Sell?

Murdoch’s Dow Jones Bid: Reading Between the Lines

Bancroft Family Votes Against News Corp. Offer

Advisers Suit Up for Dow Jones Showdown

Compare that to only three posts at the normally hard-working Wall Street Journal Blog, one of which focused on other potential buyers and another on how Murdoch should have known the Bancroft family would quickly reject any solicitation (being part of a media group that includes Fox News and the N.Y. Post may not sit well with those Wall Street Journal bloggers).  The WSJ posts were:

Of Dow Jones, Voting Rights and New Yorker Foreshadowing

Sizing Up Possible Rival Dow Jones Suitors

A Preannouncement Leak for Traders of Dow Jones Options?

By the way, according to the N.Y. Times the advisers on the yet-to-be agreed deal (recruited so fast!) are:

News Corp.: J.P. Morgan Chase, Allen & Company, Centerview Partners (Investment Bankers); Skadden Arps Slate Meagher & Flom (Legal)

Bancroft family: Merrill Lynch (Investment Bank); Wachtell Lipton Rosen & Katz (Legal)

Dow Jones: Goldman Sachs (Investment Bank); Fried Frank Harris Shriver & Jacobson (Legal)

http://lawprofessors.typepad.com/mergers/2007/05/schadenfreude.html

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