Determined to rule the world I guess

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Rupert Murdoch's $5bn (£2.5bn) takeover offer for Wall Street Journal-owner Dow Jones could ignite a bid battle for the iconic US media firm, analysts say.

General Electric - which owns the business news network CNBC - and the Washington Post have been mentioned among potential counter bidders.

The surprise $60-a-share offer from Mr Murdoch's News Corporation sent Dow Jones shares soaring by 55% on Tuesday.

However, Dow Jones' biggest shareholder group said it was opposed to the bid.

The Bancroft family, which holds just under a quarter of Dow Jones stock but has more than 62% of shareholder voting rights, is understood to have told the company's board that it would block the move.

A successful bid would bring Dow Jones publications including the Wall Street Journal and Barron's under the same stable as News Corp's New York Post in the US and The Sun and The Times in the UK.

News Corp made its offer to Dow Jones shareholders in a letter two weeks ago.