Wall Street Journal Held Off On Reporting Murdoch Bid For At Least A Week
Reuters May 8, 2007 11:16 AM
Some Wall Street Journal editors knew that News Corp. (NWSa.N: Quote, Profile , Research) was making a $5 billion bid for the paper's parent, Dow Jones & Co. (DJ.N: Quote, Profile , Research), at least a week before the news broke elsewhere, but they did not publish it, the New York Times reported on Tuesday.
The Times said that while no one has suggested that anyone at Dow Jones traded on the information, questions of who knew about the offer ahead of a formal announcement could become an issue for securities regulators looking into unusual trading in options to buy Dow Jones stock in advance of the news.
Some Wall Street Journal editors knew that News Corp. (NWSa.N: Quote, Profile , Research) was making a $5 billion bid for the paper's parent, Dow Jones & Co. (DJ.N: Quote, Profile , Research), at least a week before the news broke elsewhere, but they did not publish it, the New York Times reported on Tuesday.
The Times said that while no one has suggested that anyone at Dow Jones traded on the information, questions of who knew about the offer ahead of a formal announcement could become an issue for securities regulators looking into unusual trading in options to buy Dow Jones stock in advance of the news.
posted by Kangaroo Brisbane Australia at 3:49 PM
1 Comments:
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