Categories: OLD Media Moves

News Corp. to meet with Dow Jones directors Tuesday

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 Corp 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.”

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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.