..has been a hectic one for the global news industry. Murdoch has shown interest in buying out Wall Street Journal and Canada's Thomson Corporation has been making 'friendly' gestures towards Reuters. In the online space, Microsoft is making noises about acquiring Yahoo. Clearly, the media space is feeling the heat. FT examines the phenomenon in a candid edit:
The challenge, in one form or another, comes from the internet. Demand for media content – words, music, video and data – is large and growing, but the way consumers access it is changing. Established distribution channels, such as newspapers, including the Financial Times, must therefore invest to build up their online presence. At the same time, profits from their traditional business and stock market valuations are generally in decline, which makes companies such as Dow Jones vulnerable to bids as never before.