News Corp. CEO Rupert Murdoch said Monday afternoon that his meeting with the Bancroft family to discuss issues surrounding his offer to purchase Dow Jones & Co., the parent of The Wall Street Journal, was “constructive.”
Greg Miles and Leon Lazaroff of Bloomberg wrote, “‘We had a very long, constructive meeting and both sides want a way to consider both sides,’ Murdoch said in a brief interview after meeting with representatives of the Bancrofts.”
Later, they added, “Murdoch convinced Thomson Corp. in 1981 to sell him the Times of London, and won the backing of management with promises of editorial independence. Murdoch has made similar promises to the Bancrofts, who he is wooing with letters, flattery and assurances he won’t tamper with the Journal’s independence.
“‘He’ll try to show them he is a newspaper man at heart and convince them that he’ll do what’s right,’ said Richard Dorfman, managing director of Richard Alan Inc., an investment firm focusing on media companies based in New York. ‘He’s put on the charm offensive.'”
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