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Article: Report: News Corp., Dow Jones Reach Deal
- Article from:
- AP Online
- Article date:
- July 17, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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NEW YORK - Rupert Murdoch's News Corp. has reached a tentative agreement to buy Dow Jones & Co., publisher of The Wall Street Journal, the Journal reported on its Web site.
Negotiators from the two companies on Monday reached an agreement in principle for the original $5 billion that Murdoch had offered, and it will go to Dow Jones' board Tuesday for its approval, the Journal said, citing unnamed people familiar with the situation.
The deal would still need approval from Dow Jones' controlling shareholders, the Bancroft family, which has been divided on a sale to News Corp. because of concerns over whether the Journal would maintain its editorial independence.
Christopher Bancroft, ...