Influential Family Member Against Dow Jones Sale To Murdoch
May 24, 2007 at 5:44 AM (PT)
In an interview with the WALL STREET JOURNAL, DOW JONES Director CHRISTOPHER BANCROFT says he opposes the sale of his company to RUPERT MURDOCH's NEWS CORP. for $5 billion.
"Why would I risk that?," the influential member of the family that controls the majority of votes in DOW JONES told the JOURNAL after a family meeting WEDNESDAY in BOSTON to discuss the offer. "I'm open to any situation that benefits THE WALL STREET JOURNAL and DOW JONES and its shareholders. At the moment, I don't see anything that would do that."
Why would I risk that?
CHRISTOPHER BANCROFT and two siblings control about a third of the family's 64% voting share interest in the company. Besides the JOURNAL, DOW JONES owns BARRONS and the WALL STREET JOURNAL RADIO NETWORK.