Dow Director Resigns in Protest at Sale
NEW YORK: German publishing executive Dieter Von Holtzbrinck, the sole Dow Jones director to vote against accepting News Corporation's $5 billion bid, resigned Thursday from the company's board in protest at its decision.
Von Holtzbrinck, who also chairs the supervisory board of Verlagsgruppe Georg von Holtzbrinck, publisher of German business daily Handelsblatt, made his concerns known to his colleagues two days after the fateful vote.
"Although I'm convinced that [the] NewsCorp offer is very generous in financial terms, I'm very worried that [our] unique journalistic values will long-term strongly suffer after the proposed sale," he wrote.
Data sourced from Financial Times; additional content by WARC staff