News Corporation, Rupert Murdoch's media conglomerate, has finally made its move on Dow Jones, publisher of the Wall Street Journal. The Australian media baron, an internet player with his Myspace social network, has long had an interest in the totemic business newspaper. His $5bn unsolicited offer comes swiftly after the retirement of Peter Kann, longtime chairman of the business information group. The Bancroft family, which has guarded the independence of Dow Jones, conspicuously did not reject the bid. Of all the media moguls, Murdoch has made the boldest foray into the online market; but he began his career in newspapers, and retains a sentimental affection for print. Expect to hear plenty about the Journal's failure to exploit the opportunity in online business news; but don't believe too much of it.

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