Murdoch Finally Lands Long-Coveted Prize

New York Times:

Rupert Murdoch finally won his long-coveted prize yesterday, gaining enough support from the deeply divided Bancroft family to buy Dow Jones & Company, publisher of The Wall Street Journal and one of the world's most respected news sources, for $5 billion.

Dow Jones said early today that the companies signed a definitive merger agreement after their boards of directors voted last night to approve the deal.

For Mr. Murdoch, the verdict represents the pinnacle of his long career building the News Corporation into a $70 billion media empire that already includes more than 100 newspapers worldwide, satellite broadcast operations, the Fox television network, the online social networking site MySpace and many other parts.

Read the whole story: New York Times