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News Corp.'s purchase of Dow Jones & Co. gets antitrust clearance

News Corp.'s purchase of Dow Jones & Co. gets antitrust clearance

Dow Jones & Co. and News Corp. said that the Federal Trade Commission has given antitrust clearance for News Corp.'s $5 billion (euro3.66 billion) acquisition of The Wall Street Journal's publisher.
The companies said the FTC granted early termination of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act that gives regulators time to assess the transaction.
When the companies announced Aug. 1 that they had signed a definitive agreement, antitrust experts predicted the deal would glide through regulatory reviews because Rupert Murdoch's News Corp. avoids the concentration in a particular industry or region that usually trigger antitrust scrutiny.
Among other holdings, News Corp. owns the New York Post newspaper, the online social hangout site MySpace, the Fox broadcast network and Fox News Channel. It also owns the Twentieth Century Fox movie and TV studio, satellite broadcasters in Europe and Asia, newspapers in the United Kingdom and Australia, and book publishing and magazine properties.
In addition to the Journal, Dow Jones publishes Barron's, Dow Jones Newswires, MarketWatch.com and the Dow Jones stock market indicators.
The companies said they expect the deal to close in the fourth quarter, pending approval by Dow Jones shareholders and other customary approvals and conditions.


Updated : 2021-04-16 23:32 GMT+08:00