Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, May 8, 2007

WSJ Held News of Murdoch Bid

As the regulators and prosecutors investigate the heavy trading in Dow Jones options prior to the public announcement of Murdoch's bid, a key question is who knew about the offer before the public announcement.  Among those who apparently knew about it is the editor of the Wall St. Journal, who decided not to break the news.  The New York Times raises the question of a news organization's responsibility to report on news-worthy events involving itself -- a question it must have pondered recently with all the coverage of its shareholders' unhappiness with its poor financial performance and its dual-class stock structure that puts control of the corporation in the hands of the Sulzberger family.  See NYTimes, Wall St. Journal Editors Held News of Murdoch Bid.

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