Negotiations between the Bancroft family and its advisers over whether or not to take News Corp.'s bid of $5 billion for Dow Jones & Company continue, and they threaten to create a gap between the company board and some family advisers. The fate of Dow Jones has been too close to call for some time. The family's lead trustee, Michael Elefante, has indicated that some board members have a little less than 30 percent of the overall vote. The Bancroft family controls 64 percent of the shareholder power at Dow Jones via a complicated trustee arrangement. Some of the family favor the sale to Rupert Murdoch, News Corp's owner, but others fear that Murdoch would damage the integrity of Dow Jones and its flagship newspaper, the Wall Street Journal. One sign of the emotional nature of the decision for the Bancrofts involves Jane Cox MacElree. She resigned some of the trusts she oversaw and is against the sale. Her children, however, are strongly in favor of the sale to News Corp. Before resigning, MacElree oversaw trusts that controlled about 15 percent of the firm's overall votes. She also quit trusts that hold 5.5 percent of the vote on which she had veto power. When she resigned, the Cook part of the family, which controls 23 percent of the votes and is represented on Dow Jones's board of directors, voted in favor of the sale. MacElree is concerned that if she votes against the sale, she could be liable to beneficiaries who want it.