Dow Jones Board Takes Over Sales NegotiationsFrustrated By the Bancrofts Foot-Dragging

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The board of directors of Dow Jones will take over the negotiations on the future of the company, the Wall Street Journal is reporting. The Journal says that the describes the board as “frustrated by the Bancrof family’s foot dragging in its negotiations with News Corp.”
This new move by the board, which had taken a deferential stance to the Bancroft family until today, makes it far more likely that Rupert Murdoch’s New Corp will buy succeed in buying the company.
“In recent weeks, members of the Bancroft family had grown wary of any deal with Rupert Murdoch's News Corp., and had been laboring over a proposal to safeguard the editorial independence of Dow Jones,” the Journal’s Sarah Ellison writes. “But as the family's negotiations with each other and their advisers continued with no resolution in sight, the company's directors were growing increasingly concerned that by not responding to Mr. Murdoch, the family was endangering the negotiations.”
The Murdoch Meter has jumped up another five points to show a 90% chance that News Corp will buy the company.
Dow Jones Board Takes Over Talks [Wall Street Journal]

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