Dow Jones Board OKs Murdoch Deal, Bancrofts Vote Next
July 18, 2007 at 5:43 AM (PT)
The board of DOW JONES has approved the company's sale to RUPERT MURDOCH's NEWS CORP. for $5 billion. Two directors -- including BANCROFT family member LESLIE HILL -- abstained, while CHRISTOPHER BANCROFT left the meeting before the vote took place.
The vote TUESDAY evening sends the deal to the controlling BANCROFT FAMILY for a final vote, which is likely to come next week sometime after the family meets on MONDAY; the BANCROFTS are not obligated to accept the deal.