Michael Wolff, founder of Newser, a columnist for Vanity Fair and author of an upcoming book about News Corp.’s Rupert Murdoch, took a couple of shots today at the media mogul and his due diligence in paying $5.6 billion for Dow Jones (NYSE: NWS).
“He had no idea there was an enterprise side of the business,” Wolff said during a panel at FOBM. “I believe I was the one who explained Factiva to him. It didn’t fit into his calculations or desires at all. He wanted the newspaper, and the fact that afterward he found himself with businesses that were rather more successful than the newspaper business, was surprising.”
More on the panel discussion here.