Editing Dow Jones & Company (section)

== Ownership ==
The company's foundation was laid by Charles Dow, Edward Jones and Charles Bergstresser who, over two decades, conceived and promoted the three products which define Dow Jones and financial journalism: ''The Wall Street Journal'', Dow Jones Newswires and the Dow Jones Industrial Average.<ref name="Dow Jones History">{{Cite web|url=https://www.dowjones.com/about/|archiveurl=https://web.archive.org/web/20130606182847/http://www.dowjones.com/history.asp|url-status=dead|title=About|archivedate=June 6, 2013}}</ref>

Dow Jones was acquired in 1902 by the leading financial journalist of the day, Clarence Barron.<ref name="Dow Jones History"/>

In 2007, Dow Jones was acquired by News Corp., a leading global media company.<ref name="Dow Jones History"/>

The Bancroft family and heirs of [[Clarence W. Barron]] effectively controlled the company's class B shares, each with a voting power of ten regular shares, prior to its sale to News Corp. At one time, they controlled 64% of Dow Jones voting stock.<ref>{{cite news| url = http://news.bbc.co.uk/1/hi/business/6710633.stm| title = Dow Jones family to consider sale |publisher =BBC News | date = June 1, 2007}}</ref>

Currently, Dow Jones is owned by Rupert Murdoch, owner of News Corp and several other major media companies.

=== Buyout offer ===
On May 1, 2007, Dow Jones released a statement confirming that [[News Corporation]], led by [[Rupert Murdoch]], had made an unsolicited offer of $60 per share, or $5 billion, for Dow Jones.<ref>{{cite news |url=https://money.cnn.com/2007/05/01/news/companies/newspapers/index.htm?postversion=2007050112 |title=News Corp. offers $60 for Dow Jones |first=Paul R. |last=La Monica |date=2007-05-01 |work=[[CNN Money]] |access-date=August 19, 2017 |archive-url=https://web.archive.org/web/20240331061521/https://money.cnn.com/2007/05/01/news/companies/newspapers/index.htm?postversion=2007050112 |archive-date=2024-03-31 |url-status=live}}</ref> Stock was briefly halted for a pending press release. The halt lasted under 10 minutes while CNBC was receiving data. It was suggested that the buyout offer was related to Murdoch's new cable business news channel [[Fox Business]], which launched in 2007, and that the Dow Jones brand would bring instant credibility to the project.<ref>{{Cite magazine |title=Rupert Murdoch comes roaring back |first=Philip |last=Delves Broughton |author-link=Philip Delves Broughton |magazine=[[The First Post]] |date=2007-05-02 |url=http://www.thefirstpost.co.uk/index.php?menuID=1&subID=1359 |archive-url=https://web.archive.org/web/20070926221708/http://www.thefirstpost.co.uk/index.php?menuID=1&subID=1359 |archive-date=2007-09-26 |url-status=dead}}</ref>

On June 6, 2007, [[Brian Tierney]], CEO and founder of [[Philadelphia Media Holdings]], which then owned ''[[The Philadelphia Inquirer]]'', ''[[Philadelphia Daily News]]'' and Philly.com, went public in an article on Philly.com expressing interest in "joining with outside partners to buy Dow Jones." Tierney said, "We would participate as Philadelphia Media Holdings, along with other investors. We wouldn't do it alone."<ref>{{Cite news |title=Inquirer owner has interest in Dow Jones |first=Miriam |last=Hill |date=2007-06-07 |work=[[The Philadelphia Inquirer]] |department=Our Archives |url=https://www.inquirer.com/philly/hp/news_top/20070607_A_joint_bid_.html |access-date=2024-07-14 |url-access=subscription |archive-url=https://web.archive.org/web/20231030065413/https://www.inquirer.com/philly/hp/news_top/20070607_A_joint_bid_.html |archive-date=2023-10-30 |url-status=live}}</ref>

In June, [[MySpace]] co-founder [[Brad Greenspan]] put forth a bid to buy 25% of Dow Jones for $60 a share, the same price per share as News Corporation's bid, giving the existing shareholders a $1.25 billion cash infusion while maintaining overall ownership of the company.<ref>{{cite web |title=General Electric, Pearson won't bid for Dow Jones |first1=Charley |last1=Blaine |first2=Elizabeth |last2=Strott |website=[[MSN Money]] |department=Market Dispatches |url=http://articles.moneycentral.msn.com/Investing/Dispatch/070621markets.aspx |access-date=2017-08-19 |archive-url=https://web.archive.org/web/20070625171309/http://articles.moneycentral.msn.com/Investing/Dispatch/070621markets.aspx |archive-date=2007-06-25 |url-status=dead}}</ref>

On July 17, 2007, ''[[The Wall Street Journal]]'', a unit of Dow Jones, reported that the company and News Corporation had agreed in principle on a US$5 billion takeover, that the offer would be put to the full Dow Jones board on the same evening in New York, and that the offer valued the company at 70% more than the company's market value.<ref>{{cite news |title=Dow Jones, News Corp. Set Deal |first=Sarah |last=Ellison |author-link=Sarah Ellison |date=2007-07-17 |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB118463978304868582 |url-access=subscription |access-date=2024-07-14 |archive-url=https://web.archive.org/web/20150324075940/https://www.wsj.com/articles/SB118463978304868582 |archive-date=2015-03-24 |url-status=live}}</ref>

{{blockquote|Our strategy centers around leaving the print publications of Dow Jones intact to continue serving as the gold standard of financial reporting, and creating additional earnings streams through [[digital media]] initiatives that can produce a stock price above 100 dollars a share,

For too long, Dow Jones has limited its focus to the world of print media and allowed other, less established entities to generate millions of dollars in profits by developing financial reporting franchises on the Internet and cable television.

The time has come for Dow Jones to break out of its slumber and extend its dominance into the lucrative arena of digital media.|Channel News Asia Business Section<ref>{{cite news |title=Internet tycoon offers new plan for Dow Jones to foil Murdoch |agency=[[Agence France-Presse]] |date=2007-07-21 |website=[[CNA (TV network)|CNA]] |url=http://www.channelnewsasia.com/stories/afp_world_business/view/289501/1/.html |access-date=2017-08-19 |archive-url=https://web.archive.org/web/20070823035328/http://www.channelnewsasia.com:80/stories/afp_world_business/view/289501/1/.html |archive-date=2007-08-23 |url-status=dead}}</ref>}}

====Insider trading scandal====
Upon investigating suspicious share price movements in the run-up to the announcement, the [[United States Securities and Exchange Commission]] alleged that board member [[Sir David Li]], one of [[Hong Kong]]'s most prominent businessmen, had informed his close friend and business associate Michael Leung of the impending offer. Leung acted on this information by telling his daughter and son-in-law, who reaped a US$8.2 million profit from an [[insider trading]] transaction.<ref name=secactions>{{cite web |title=The News Corp-Dow Jones Insider Trading Case: A Significant Settlement |first=Thomas O. |last=Gorman |date=2008-02-06 |website=secactions.com |publisher=[[Dorsey & Whitney LLP]] |url=https://www.secactions.com/the-news-corp-dow-jones-insider-trading-case-a-significant-settlement/ |access-date=2024-07-14 |archive-url=https://web.archive.org/web/20240225020629/https://www.secactions.com/the-news-corp-dow-jones-insider-trading-case-a-significant-settlement/ |archive-date=2024-02-25 |url-status=live}}</ref>