Where Rupert Could Fall Short

Murdoch's patience is not what The Wall Street Journal needs

Evidently, when someone comes in and offers you nearly double the current share price, it's hard to say no. News Corp.'s purchase of Dow Jones (DJ) will soon resound across the landscape in ways obvious (say hello, Wall Street Journal and Barron's, to the Fox Business Channel) and not so obvious. For one, News Corp. (NWS) is in the process of updating its printing presses in Europe, which will ready the Journal for a frontal attack on the Financial Times' home turf.

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