Categories: OLD Media Moves

Dow Jones shareholders approve deal

Sarah Ellison of The Wall Street Journal reports Wednesday afternoon that a preliminary count of proxies sent in for the Dow Jones & Co. shareholders meeting Thursday shows that a majority have voted in favor to sell the company to News Corp.

Dow Jones is the parent company of The Journal, Marketwatch, Barron’s and Dow Jones Newswires.

Ellison wrote, “The shareholder vote will officially end more than a century of Bancroft family ownership at Dow Jones. Spokeswomen for Dow Jones and News Corp. declined comment.

“As of the deal’s announcement Aug. 1, News Corp.’s offer for Dow Jones had received support from Bancroft family members holding 37.4% of Dow Jones’s voting power, more than half of the Bancroft family’s total voting stake of 64.2%. It is unclear how many more members of the Bancroft family have thrown their support behind the deal.”

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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.