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Observer: Gem stones

Published: August 3 2007 03:00 | Last updated: August 3 2007 03:00

The News Corp and Dow Jones merger agreement barely mentions either of the companies. Instead, they are referred to as "Ruby" (News Corp) and "Diamond" (Dow Jones) throughout. These particular choices leave lots of room for interpretation. First of all, diamonds are more valuable than rubies, or that is the common perception. A bit of research reveals that "fine rubies can be more costly than diamonds".

Or perhaps there is a hidden meaning: Ruby is the stone for April birthdays (the month that Rupert Murdoch made his offer to the Bancroft family) and diamonds are for July birthdays - the month the deal was signed (just).

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