Matthew Karnitschnig of The Wall Street Journal reports Wednesday that the Bancroft family that controls Dow Jones & Co., the parent of the Journal, plans to meet Wednesday to discuss News Corp. CEO Rupert Murdoch‘s $5 billion offer for the company.
Karnitschnig wrote, “Some members of the clan believe the family should explore the matter further and look into possible alternatives to Mr. Murdoch’s offer, these people say. It isn’t clear whether all the family’s various branches will be represented at the meeting.
“The meeting has no formal agenda, but it could be significant because it would allow family members to openly debate their ownership strategy for Dow Jones.
“Previous meetings have been more scripted affairs, with investment bankers and others making formal presentations about the particulars of Mr. Murdoch’s offer and the state of the news industry. Family members representing 52% of the voting power of Dow Jones have said they are opposed to the Murdoch offer.”
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