NEW YORK: Media mogul Rupert Murdoch has set the cat among the pigeons with his offer to the Bancroft clan for the Dow Jones publishing firm they control and its flagship Wall Street Journal.
His $5 billion (€3.68bn; £2.51bn) offer, at first roundly rejected [WARC News: 03-May-07] , appears now to have focused the minds of some of the 35-strong controlling family members who are reportedly willing to meet with the chairman/ceo of News Corporation.
Other Bancrofts are apparently standing by their original conviction that Murdoch ownership might compromise Dow Jones' journalistic integrity.
The NewsCorp boss has now taken a softly softly approach in his pursuit of the company [WARC News: 14-May-07], possibly hoping that time alone will persuade enough of the shareholders to sell.
Comments Brian Shipman, analyst at UBS: "What is unclear is whether they are fundamentally opposed . . . or whether they are merely holding out for a sweeter deal."
Data sourced from Financial Times online; additional content by WARC staff