Last updated: February 21, 2008 - 7:36am
DOW JONES SAYS IT WILL CONSIDER OPTIONS SALE
[SOURCE: New York Times, AUTHOR: Andrew Ross Sorking & Richard Perez-Pena]
The family that controls Dow Jones & Company, publisher of The Wall Street Journal, announced yesterday that it would consider selling the company, ending more than a century of family ownership. The announcement came after the family, the Bancrofts, said that it was willing to meet with Rupert Murdoch’s News Corporation, just weeks after the family rejected a $5 billion takeover offer from Mr. Murdoch. Mr. Murdoch requested a personal meeting with the Bancrofts weeks ago, saying that he wanted his family and theirs to become acquainted. Until yesterday, there had been no reply to that overture. The decision represents a remarkable about-face for both the company and Mr. Murdoch’s bid. A successful deal would mean a huge victory for Mr. Murdoch, the Australian media mogul, and new ownership for The Wall Street Journal, the second-largest newspaper in the country by circulation and one of the great names in American journalism.
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