The Wall Street Journal is an English language newspaper focusing on business and financial news. It is printed daily, Monday through Friday and also on Saturday as a weekend edition. It is published in American, Asian and European editions.
On October 14, 2009, the Wall Street Journal surpassed USA Today to become the largest circulated daily newspaper in the United States.http://www.google.com/hostednews/ap/article/ALeqM5ib3uXUMcMp-ObHk4UmvWRVVJZsnwD9BAVM5G3
In 2007, Rupert Murdoch's News Corp. gained control of Dow Jones, the publisher of the Wall Street Journal.http://news.bbc.co.uk/2/hi/business/6923474.stm
History
The publisher of the Wall Street Journal, the Dow Jones & Company, was founded in 1882. In 1889, its three founders, Edward Jones, Charles Dow, and Charles Bergstresser changed the name of a periodical known as the Customers Afternoon Letter and modified its design and content into a new paper which they called the Wall Street Journal. That same year the group also initiated nationwide delivery of its Dow Jones News Service via telegraph transmissions.
Among its early innovations was the creation of the "Jones Average," a predecessor to what are now known as stock indices, tracking market performance based on a basket of predetermined instruments.
In 1928, the Dow Jones & Company and the Wall Street Journal were purchased by Clarence Barron. Descendants of Barron, through the Bancroft family, retained control of the newspaper until Rupert Murdoch took over control of the company in 2007.
Takeover by News Corp
The media holding company, News Corp., owned and controlled by Rupert Murdoch, made an unsolicited takeover bid for the Wall Street Journal's publisher, Dow Jones, on May 2, 2007. The initial offer was for $60 USD per share.
On August 1, 2007 a merger agreement was formalized between News Corp. and Dow Jones. On December 13, 2007, formal shareholder approval was given to the takeover by more than 60% of the shareholders of record.
