Murdoch's News Corp. (Fox, 175+ papers) bids on Dow Jones (WSJ)

News Corp.’s Rupert Murdoch has made an unsolicited $5 billion bid for The Wall Street Journal. Over at Wired News Epicenter blog, Adario Strange has a roundup on the story. Link.

Snip:

The implications of the proposed deal are staggering. Already the world’s largest media organization, News Corp. owns 175 different newspapers, book publisher HarperCollin, Fox Interactive (which includes MySpace, IGN, Rotten Tomatoes, AskMen, AmericanIdol.com, Fox.com), TV Guide, The Weekly Standard, leading UK television network Sky TV, DirectTV, 20th Century Fox, Fox News, FX (cable network), and the National Geographic Channel.

Murdoch’s most high profile print media asset is The New York Post, a paper often criticized for its controversial covers, right leaning politics and tabloid tactics (largely led by its Page Six section). The acquisition of The Wall Street Journal would not only add a hefty amount of blue chip credibility to the News Corp. media fold, but it would also place the leading business news source on the planet in the hands of one man.