Friday, May 04, 2007

UNITY Owner?

Employees over at the WSJ have a ridiculous conundrum. They want to cash in on their stock and stock options, so they are afraid that the Bancroft family will scupper a deal and scare away all potential suitors and the stock will retreat back into the toilet. But they don't want Murdoch to own the WSJ, because, well, because he's Murdoch (and contrary to popular belief, most people who work at the WSJ are probably indistinguishable from most people who work at the NY Times). But on the other hand Murdoch is at least a journalist kinda owner. They'd rather have him than a private equity owner. Nobody wants a private equity owner. So what are they pining for as they gnash their teeth over two unpleasant options? What else, Michael Bloomberg. $70 per share from Bloomberg would be pure nirvana down at DJ HQ.

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