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Murdoch's Bid for Wall Street Journal Rejected
World Business News |
2007/05/02 08:34
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| Media tycoon Rupert Murdoch's bid for the company that publishes the Wall Street Journal is facing opposition from the company's controlling shareholders. The Bancroft family has rejected Murdoch's initial $5 billion offer for the Dow Jones Company. However, some family members revealed an interest in selling, which could spur a larger offer from Murdoch or from competing groups. The Wall Street Journal is a well-respected business publication that has the second-largest circulation of all U.S. newspapers. The journal would give credibility to a new business news channel that Murdoch's company, News Corp, plans to put on cable television later this year. News Corp's bid is worth about 65 percent more than Dow Jones' recent market share. Many U.S. newspapers are losing readers and advertisers to online news sources. The most recent study shows U.S. newspaper circulation falling more than two percent over the past six months. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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