Dow Jones investigates bribery allegations against WSJ China
Dow Jones & Co said it found no sign of impropriety at its China operations, after the Wall Street Journal reported that a whistleblower had accused Journal employees of bribing Chinese officials for information.
Found more than 1 month ago on channel Reuters
Hostess Set to Announce Bidder for Twinkies
(NEW YORK) — The indestructible Twinkie appears to be one step closer to a comeback. Hostess Brands is close to announcing that it has picked two investment firms — C. Dean Metropoulos & Co. and Apollo Global Management — as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation who was not authorized to comment publicly on the talks. (MORE: PBR Owner Making a Bid for Twinkies) The joint “stalking horse” bid would set the floor for an auction process that lets competitors make better offers. A judge would have to approve any final sale. After years of management turmoil and turnover, Hostess declared it was going out of business and selling its brands in November. The company, based in Irving, Texas, has already announced separate lead bidders for other its brands. McKee Foods, which makes Little Debbie snack cakes, was picked as for Drake’s cakes, which include Devil Dogs, Funny Bones and Yodels. Flowers Foods, which makes Tastykakes ...
What News Corp.’s Breakup and the Demise of ‘The Daily’ Mean for the Future of Murdoch’s Media Empire
Billionaire mogul Rupert Murdoch‘s plan to split his giant media conglomerate News Corp. into two independent publicly traded companies began to take shape Monday, after the company announced a flurry of management and organizational changes ahead of the breakup. The moves are further evidence of Murdoch’s plan to focus on entertainment assets — he’s making a big push into regional U.S. sports television ahead of a possible national Fox sports network — as News Corp. seeks to regain its footing after a tough phone-hacking-and-police-corruption scandal involving its U.K. newspaper business. Perhaps the most striking news, from a technology and media perspective, is the announcement that News Corp. plans to close The Daily, the New York-based iPad newspaper that was launched to great fanfare less than two years ago. To start with, Murdoch announced that Wall Street Journal managing editor Robert Thomson, a former top editor at The Times of London and the Financial Times, will become ...
News Corp. Taps WSJ Editor to Head Publishing Company
News Corp. plans to name Robert Thomson, managing editor of The Wall Street Journal and editor in chief of Dow Jones, as chief executive of its publishing company as early as next week, according to people familiar with the matter.
Wall Street takes an Election Day beating
In Tuesday’s election, while hardly a referendum on financial industry, candidates able to paint opponents as in Wall Street’s pocket had a winning hand, notes MarketWatch’s David Weidner in a Wall Street Journal column.