Murdoch Nears $5 Billion Purchase of Dow Jones

Rupert Murdoch Close to Adding The Wall Street Journal to His Media Empire

July 18, 2007 —

He'll take The Wall Street Journal for $5 billion, please.

Australian tycoon and media mogul Rupert Murdoch is one step closer to owning the crown jewel of the journalism industry, with a takeover that is raising eyebrows from Dow Jones to the larger media world.

The board of Dow Jones said late Tuesday it was ready to sign off on Murdoch's proposal to buy the company for $5 billion.