No gem of a deal

The ghost of past-deals-gone-wrong haunts Rupert Murdoch’s celebration of his imminent $5bn takeover of Dow Jones - the publisher of The Wall Street Journal, and a minority investor in breakingviews.com. Less than a week before the owners of Dow Jones were to vote on selling out to News Corp, Murdoch’s shareholders received a reminder that the mogul’s takeover touch is not always golden. Last Friday, Gemstar-TV Guide International, in which News Corp owns a 41% stake, agreed to be acquired by Ma...