Article: Business Watch

Murdoch clears final hurdle

NEW YORK -- Rupert Murdoch's US$5 billion-plus bid for Dow Jones & Co., publisher of The Wall Street Journal, cleared its final hurdle Thursday as shareholders of the financial publishing company gave their approval, setting up the deal to close later in the day.

The changeover is sure to bring significant changes to the Journal, starting with a new management team that was announced late last week.

Longtime News Corp. publishing executive Les Hinton will be chief executive, while Robert Thomson, editor of Murdoch's The Times newspaper in London, will be publisher. Several Dow Jones executives are departing, including CEO Richard Zannino.

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