A group of Wall Street Journal reporters wrote for Wednesday’s paper that the Bancroft family that controls Dow Jones & Co. is still too divided to determine if they will agree to sell the company to News Corp. CEO Rupert Murdoch for $5 billion.
“The Bancrofts’ predicament has become a wrenching test of loyalties, including parents’ choices among children and the upholding of tradition against obligation to future generations. Now the family could be splintered by the company that once brought it together.
“Of the family’s three main branches, the Cox branch — which includes Ms. MacElree — is perhaps the most divided. Two of Ms. MacElree’s sons favor a sale to Mr. Murdoch, while the third is leaning against, say people familiar with their thinking. Her four daughters mostly are aligned with their mother against the deal, according to people who have talked to them.”
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