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Rupert Murdoch may be wasting little time in retooling Dow Jones & Co. as a 21st century new-media business. The media mogul, who's News Corp. agreed to buy the business publisher over the summer, already has plans to ditch The Wall Street Journal's Web site subscription fees, but may also seek to update the site through a purchase of social networking Web site LinkedIn, according to VentureBeat.
Although News Corp.'s Fox Interactive owns leading social network site MySpace.com, a purchase of LinkedIn Corp., which is geared toward business people rather than teens and twenty-somethings, reportedly would be via a separate unit called News (Corp.) Interactive Media, notes VentureBeat. However, any deal for LinkedIn will cost News Corp. more than its $580 million MySpace.com purchase. According to Fortune's Go West blog, the likely price would exceed $1 billion. On a related note, Dow Jones announced Tuesday it's open to selling its local newspaper chain Ottaway. — Matthew Wurtzel See story from VentureBeat Categories Deal Video
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