Categories: OLD Media Moves

Bancrofts still haggling about deal

Sarah Ellison and Matthew Karnitschnig of The Wall Street Journal write Monday that the Bancroft family vote on whether to sell the Journal’s parent, Dow Jones & Co., to News Corp. CEO Rupert Murdoch is still too close to call.

Ellison and Karnitschnig wrote, “The Bancroft family and its advisers headed into the final hours of deliberations over the fate of Dow Jones & Co. yesterday amid heated jockeying and negotiating that threatened to create a rift between the company’s board and some family advisers, according to people familiar with the matter.

“Still, the company’s fate remained too close to call, these people said. Michael B. Elefante, the family’s lead trustee, indicated to some on the board last night that he has slightly less than 30% of the overall vote. News Corp. likely needs family votes representing roughly 30% of the overall vote.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.