News Corp. (parent company to MySpace) and the management of Dow Jones have agreed on a $5 billion purchase price. The next step is a vote by the board of directors of Dow Jones this evening. Following board approval, the deal will still need the approval of the Bancroft family, which controls 64% of Dow Jones’s voting power. The final decision should be made next week.
I love the fact that the same company that owns MySpace will, if things go according to plan, now own the Wall Street Journal, too. What a small world this is becoming. A small, conflicted world.