Former Dow Jones & Co. CEO Peter Kann, who stepped down from that position at the beginning of 2006, wrote a letter to the Bancroft family that controls a majority of the voting stock in the company to thank them for their opposition to the proposed $5 billion acquisition by News Corp.
“All of the above is a long way of saying thank you. I realize many of you are under multiple pressures and that the decisions you and your trustees are making are very difficult ones. But please know that there are many of us who have worked for the company, or continue to do so, who admire you for doing what is right. I do.”
Read the rest of the letter, posted on the Journal’s web site, here.
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