Media In The City: Dow Jones Agrees Takeover

The big City news last week was Dow Jones agreeing to a takeover by News Corporation in a deal worth approximately $5.6 billion (£2.8 billion).

The deal followed months of wrangling, with the News Corp offer of $60 per share eventually being accepted by the Bancroft family, who control 64% of Dow Jones voting stock (Full Story).

Trinity Mirror reported that its operating profit for the 26 weeks ending July 1 increased by 5.9% (Full Story) and announced that it is selling 27 regional newspapers and nine niche titles in London and the south-east (Full Story).

Sky bought Amstrad, who supply approximately 30% of the boxes purchased by Sky, in a deal worth £125 million (Full Story).

Meanwhile, Guardian Media Group published its annual report, showing that its turnover from continuing operations increased to £716.1 million for the financial year ending April 1 (Full Story), whilst Pearson, publisher of the Financial Times, announced that FT group revenues were up 8% with profits up 28% in the first half of the year (Full Story).

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