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Article: Dow Jones family's power rests with Hub law firm
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- May 3, 2007
- Author:
CopyrightCopyright 2007 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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The fate of Dow Jones & Co. and its flagship newspaper, The Wall
Street Journal, lies in the hands of a patrician New England family
that has shunned hands-on management and has instead entrusted much
of its legacy to powerful but discreet Boston lawyers.
The Bancrofts, heirs to the controlling stock of Dow Jones, have a
$5 billion offer for their company from media magnate Rupert Murdoch
and his News Corp. The family indicated Tuesday that it is not
interested, and late yesterday the Dow Jones board said it would not
act on the offer.
But that has not dampened speculation about a possible sale, which
has continued to buoy Dow Jones stock since it jumped 55 percent on
Tuesday.
The Bancroft ...