Fidelity Sells Most Of Its Dow Jones Stake
June 13, 2007 at 5:44 AM (PT)
FIDELITY MANAGEMENT AND RESEARCH CO. has sold most of its holdings in DOW JONES AND CO. while the controlling BANCROFT family continues to mull RUPERT MURDOCH's bid for the publisher of the WALL STREET JOURNAL and BARRON'S and owner of the WALL STREET JOURNAL RADIO NETWORK.
FIDELITY owned 5.4 million common shares of DOW JONES in FEBRUARY but had reduced the stake to 116,754 shares as of MAY 31, going from 8.6% to less than 1%. The stock price went up about 45% in that time, the result of MURDOCH's bid.