Bancroft Family to Convene Monday to Decide Dow's Fate
NEW YORK: The Bancroft family, whose thirty-five adult members between them control Dow Jones and The Wall Street Journal, will meet in Boston on July 23 to decide the fate of the company - currently the subject of a $5 billion bid by Rupert Murdoch's News Corporation and agreed earlier this week by the Dow board.
The Bancrofts will hear a presentation about NewsCorp's offer. Following which they have one week in which to make their decision.
The seven-day deadline was requested by Murdoch, reportedly desperate to clinch the deal in time to exploit the prestige and editorial resources of the WSJ for the October 15 launch of his Fox Business News Network.
Data sourced from Wall Street Journal Online. additional content by WARC staff