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Article

Title: Bancrofts Open Door to a Sale of Dow Jones

Author: Ellison, Sarah; Berman, Dennis K; Pulliam, Susan Article Type: Product Analysis
Source: Wall Street Journal, v249 n127 pA1(2) Publication Date: Jun 1, 2007
  ISSN: 0193-2241
  Illustrations: Charts, Graphs
URL of Publication: http://www.wsj.com

The Bancroft family controls 64 percent of Dow Jones voting power and now says it will meet with Rupert Murdoch's News Corporation to talk over Murdoch's $5 billion bid for Dow Jones, publisher of the Wall Street Journal. The Bancrofts will also consider bids from other interested parties. Michael B. Elefante, Dow Jones director and Bancroft family representative, stated to directors that a detailed review of the business has prompted the family to conclude that the mission of Dow Jones could be better achieved in combination or collaboration with another organization, which could include News Corp. On the news, investors pushed the value of Dow Jones shares up 12 percent. With a representative of the company's board present at the discussions, Dow Jones directors will have a path to more involvement in determining the company's future and to help decide if a bid will be accepted and from which bidder. One issue that Dow Jones must deal with is concern over the planned $17.2 billion merger of Reuters Group PLC and Thomson Corp., which was made known soon after Mr. Murdoch made his offer for Dow Jones. The Reuters-Thomson deal is could put more competitive pressure on Dow Jones Newswires.

Special Features: Charts, Graphs

Companies:
Dow Jones & Co Inc News Corp

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