The cases deals with the acquisition by Disney of the Murdoch group and the strategies employed by the firms in the media industry to manage disruption.

Dow Jones, publisher of The Wall Street Journal, had been a source of wealth, pride and prestige for the Bancroft family for much of the 20th century. From 1928 to 2007, the family lived off company dividends and left the day-to-day management of the publishing business to senior journalists who had worked their way up through the ranks of the WSJ.

The object of this case is the huge equity offering attempted by Time Warner in June/July 1991. The case outlines the position of the company and the controversial structure of the offering.