TheStreet.com’s Jim Cramer writes Thursday morning that the Dow Jones & Co. outside board members are all current or former executives of other companies who know something about creating shareholder value and thus should take the $5 billion offer from News Corp. to sell the owner of The Wall Street Journal, Barron’s and Marketwatch.
“This board is going to be very worried about being sued. These members are going to be very worried about why they are even on the board if they can’t think about bringing out shareholder value. They are not on the board to protect the newsroom. They are on the board to assess whether Dow Jones can get to $60 on its own at some time in the future without the Murdoch bid. If they can’t opine on the bid, they know they are a sham board, and these are not sham people.
“I believe that these board members are going to have to support this bid. I think they are going to pressure the Bancroft family — which is no longer intransigent — to take a higher deal or they will have to resign en masse and reveal the charade that is dual classes of stock. I also believe that they will be able to convince a couple of Bancrofts, and that will be enough to do the job.”
Read more here.Â
Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…
Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…
The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…
CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…
Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…
Members of the CoinDesk editorial team have sent a letter to the CEO of its…