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Latest Business News

Bid for Journal Is Talk of Wall Street

Saturday, June 02, 2007 9:32:43 PM
By VERENA DOBNIK

Bob Dolin, a newsstand owner across the street from the New York Stock Exchange, talks Friday June 1, 2007 about Rupert Murdoch's offer to by The Wall Street Journal.  Wall Street was abuzz over news that the family that controls The Wall Street Journal was contemplating a $5 billion bid by the New York Post's owner, Rupert Murdoch.  (AP Photo/Richard Drew)NEW YORK (AP) - Financial analyst Edouard Morin slid from his lunch seat at the swanky Harry's Cafe around the corner from Wall Street and sized up the latest merger talk that has the business world abuzz.

"The Journal is an American icon," he said. But this is Wall Street after all, so he added an important caveat: "Everything is for sale these days, at the right price."

Some on Wall Street said Rupert Murdoch's attempt to buy The Wall Street Journal was a bad idea, while others said it was merely capitalism — you have to do what's best for the business.


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