Media Moves

The Murdoch family woos the Bancroft family

May 21, 2007

Posted by Chris Roush

Richard Siklos of The New York Times writes in Monday’s paper that the family of News Corp. CEO Rupert Murdoch, who has made a $5 billion bid to buy Dow Jones & Co., the parent of The Wall Street Journal, has mended its disagreements as its leader tries to woo the Bancroft family that controls Dow Jones.

Rupert MurdochSiklos wrote, “His hope is that the Bancrofts will at least agree to hear him out, and possibly meet him and his grown children. Mr. Murdoch is in frequent contact with his children — just as he seems to be with each outpost of his business — and has discussed his ambitions for Dow Jones with them.

“Current and former company executives have speculated that if the News Corporation is successful in acquiring Dow Jones, it could set the stage for either Lachlan, 35, or his brother James, 34, (or both) to return to the company in senior roles — a new wrinkle in the continuing parlor game.

“After Lachlan left, Mr. Murdoch said he hoped he would return to the company one day. A person close to the News Corporation said Rupert mentioned the possibility of bringing James back to headquarters when laying the groundwork for a Dow Jones bid last year. Two people close to James, however, said he was committed to running the British pay-television service BSkyB and had no immediate plans to move to the United States.”

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.