OLD Media Moves

News Corp. to meet with Dow Jones directors Tuesday

July 16, 2007

Posted by Chris Roush

Joshua Chaffin and James Politi of The Financial Times write for Tuesday’s paper that News Corp. will meet with Dow Jones & Co. directors in what could be a decisive meeting in whether the parent of The Wall Street Journal is sold.

Chaffin and Politi wrote, “The meeting, which will include News Dow JonesCorp representatives and a special group of Dow Jones directors, is expected to focus on price and other outstanding issues. If the two sides reach a tentative agreement, they will send it for final approval to the full Dow Jones board and members of the Bancroft family, which controls 64 per cent of the company’s voting power.

“Some family members remain adamantly opposed to selling to Mr Murdoch at any price, according to people familiar with the matter, and their deliberations could take a week or more. They are also mulling a separate course in which some Bancrofts would sell their shares to others, allowing them to cash out their inheritance without transferring control of a media group that has been in their family for more than a century.”

Read more here.

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