Stephen Brook of The Guardian newspaper in London is reporting that negotiations between Dow Jones & Co., the parent of The Wall Street Journal, and News Corp. are complete, and it appears that Rupert Murdoch will be successful in acquiring the company if the Bancroft family that controls Dow Jones approves the deal.
Brook wrote, “Rupert Murdoch has succeeded with his $5bn (£2.5bn) bid for Dow Jones, owner of the Wall Street Journal, the Business magazine reported on its website today.
“News Corporation has completed negotiations with the Dow Jones board, which is confident that the controlling Bancroft family will accept the deal, a story on the magazine’s website said, quoting sources acting for the Wall Street Journal owner’s board.
“The story was written by Andrew Neil, a former Murdoch lieutenant and now chief executive of the Press Holdings, which owns the Business, and by James Forsyth.”
Read more here. The Business magazine article can be found here.
