May 1, 2007

News Corp., the company owned by media magnate Rupert Murdoch, made a $5 billion bid to purchase Dow Jones & Co, which publishes the prestigious Wall Street Journal.

Murdoch's global media empire spans several continents and boasts such diverse household names as 20th Century Fox, the New York Post, the Fox News Channel, DirecTV, HarperCollins Publisher, and MySpace.com. A 2007 Foreign Policy magazine article declared "no other media company can claim greater global reach" than News Corp.