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Article: News Corp., Dow Jones Approach Decision
- Article from:
- AP Online
- Article date:
- July 31, 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 appeared close to winning his prize of buying Wall Street Journal publisher Dow Jones & Co., but there was no word yet Tuesday that he had won over enough of the company's controlling shareholders.
Expectations were rising that a resolution of the months-long process could be at hand, and the boards of both Dow Jones and News Corp., the global media conglomerate that Murdoch controls, had meetings scheduled for later in the day.
Investors were encouraged by indications that the two sides appeared to be close to reaching a deal, sending the shares of Dow Jones up $5.49 or 10.7 percent to $57.05 in early trading. That's much closer to Murdoch's offer of $60 a ...