05/07/2007

Dow Jones Down Under?

Hello:

Many domestic companies are getting buy out bids from international companies, in part due to the low valuation of the US dollar. Last week, Dow Jones, the owner of the Wall street Journal, received a bid from Australian Media Conglomerate, News Corp, which is headed by Rupert Murdoch. News Corp owns Fox News, MySpace, and 20th Century Fox among other assets.

According to the Financial Times, "Mr. Murdoch has long coveted the Journal for its editorial clout. More recently, he has come to view the paper as a means to bolster a US Cable business channel he is planning to launch later this year."

The Bancroft family, Dow Jones' controlling shareholders, have turned down the $5 billion bid. Said Warren Buffett, in an interview with CNBC. "... it's not like they're turning down the deal of a lifetime if they turn it down."

Seeing a buyout bid from an international company on an old standard like the WSJ really brings home the point that it is an ever smaller global village in which we live.


Speaking of media, you can watch Terri and Ray on live TV ("Good Morning Big Bear, Channel6BigBear, local cable TV show) Tuesday mornings at 7:10 am PDT. Just visit our website www.trisummit.com close the disclaimer page, click on the TV box ,and wait a minute or two for the live feed to load. If you miss the early morning show, there is a replay every Tuesday at 7:10 pm PDT.

Terri G. Millson, CIMA, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager