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Article: News Corp. Reaches Deal to Buy Dow Jones
- 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 reached a tentative agreement to buy Wall Street Journal publisher Dow Jones & Co., the Journal reported Tuesday, but he must still win over the company's controlling shareholders.
The Bancroft family, which has 64 percent of Dow Jones' shareholder vote through a special class of stock, has been deeply divided over a sale to Murdoch due to concerns over whether the Journal would remain editorially independent. Several key family members have sought alternatives to an acquisition by the media baron, but so far no serious contenders have emerged.
Dow Jones, News Corp. and a spokesman for the Bancroft family all declined to comment.
The Journal ...