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The Family will talk to Rupert

Posted by Jeremy Goldkorn, June 1, 2007 10:26 AM

The Wall Street Journal reports:

Dow Jones & Co.'s 125-year history as an independent media company could be nearing an end.
The Bancroft family, which controls 64% of the company's voting power, said in a statement late yesterday that it would meet with Rupert Murdoch's News Corp. to discuss its $5 billion bid for Dow Jones, publisher of The Wall Street Journal. The family also said it would consider other bidders and options for the company.

The statement also noted that the Bancroft family has decided that 'the mission of Dow Jones may be better accomplished in combination or collaboration with another organization, which may include News Corp'.

Danwei recently published a letter from most of the Journal's China journalists asking the Bancroft family to turn down Murdoch's bid (linked below).

Links and Sources

Danwei: The Times to Murdoch-bashers: We're doing fine
Danwei: Wall Street Journal China bureau to Murdoch: stay away!
Danwei: Aussie newspaper kills story about Rupert Murdoch's wife story still developing, watch this space...

There are currently 1 Comments for The Family will talk to Rupert.

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Comments on The Family will talk to Rupert

Do the deal. Bancroft's only stand to lose money if they turn down the offer and the downswing print is having will make them surely lose all their money fast.
Fox is overbidding so take the money while it is there and run. Fox needs the assets for the new business channel...you old folks need the money to do whatever the heck you desire. $5 billion is a ton of cash.

Posted by: FRITZ | June 1, 2007 11:01 AM