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Article: Down on Dow Jones; One year later, investors aren't sold on Rupert's WSJ deal; poised for growth.(News)
- Article from:
- Crain's New York Business
- Article date:
- December 15, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matthew Flamm
Since rupert murdoch closed his hard-fought deal for Dow Jones & Co. last December, the News Corp. chairman has expanded foreign and political coverage in The Wall Street Journal, redesigned its Web site, beefed up overseas properties and generally raised the paper's profile while other newspapers have gone on life support.
All that, and investors still don't like the deal.
Battered by the recession, News Corp. has seen its share price plunge more than 60% in the past 12 months--the second-worst performance among major media stocks, after CBS Corp.
There are many reasons for the company's low valuation, including ...