News Corp (NWS-A) made a bid for the Dow Jones company, which owns the Wall Street Journal, Barrons, Market Watch, as well as some other strategic alliances. This is a big move for Rupert Murdoch and News Corp. They are launching a Fox Business Channel to compete with CNBC this year. Having the alliance of The Wall Street Journal and Barrons will be huge to give the new channel instant credibility. Fox News already has very high viewership, and to me the question mark that would be Fox Business Channel, just got legitimized if this acquisition goes through. I've been a fan of News Corp for the past couple of years, and especially after their acquisition of social networking website Myspace. I think Murdoch has this company on a great track to become the premier media conglomerate.
There was a nice article about the deal that you can read here.