Sydney, Aug 1, 2007 (ABN Newswire) - According to media reports this morning, News Corp is now set to takeover Dow Jones. The Wall Street Journal is reporting that a majority of the Bancroft family members controlling at least 38 per cent of the company have agreed to a sale. A family spokesman, however, says reports of a done deal are premature. Meanwhile the News Corp board has met and approved the purchase of Dow Jones for the offer price of $60 per share. News Corp has produced profits of the last two financial years.

Macquarie Bank has warned retail investors with positions in two of its high yield investment funds are set to suffer losses of up to 25 per cent. In comes as the U.S. sub prime mortgage market continues to weaken with Macquarie predicting related losses of up to $300 million. According to Macquarie Fortress Investments director Peter Lucas, the average price of assets in the portfolio has dropped by 4 per cent in the last month. Macquarie Bank follows Basis Capital and Absolute Capital as investment firms caught up in the U.S. mortgage crisis. Macquarie Bank produced record earnings in 2007.

And Babcock and Brown Capital has acquired the Israeli Golden Pages. The investment firm says the Golden Pages have an outstanding portfolio of complimentary directory and search businesses. BCM executive director Robert Topfer says the acquisition represents the continuation of BCM's focus on telecommunications and media. The deal is said to be worth around $248 million. Babcock and Brown Capital slipped into the red last financial year

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/SXH1LY46


Audio Link

http://abnnewswire.net/lnk/CH41B10D

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