MediaBuyerPlanner: The Bancroft family is holding a private meeting today to discuss News Corp.’s $5 billion offer for Dow Jones & Co.
The meeting has no formal agenda set, and could be significant because previous meetings have involved investment bankers and others making formal presentations, writes The Wall Street Journal. The private meeting will allow family members to openly debate their ownership strategy for Dow Jones.
The family controls 64 percent of the voting power of the company; family members representing 52 percent of the voting power have said they are opposed to the offer.
Wall Street executives say the family could explore looking for other buyers. However, News Corp.’s chairman Rupert Murdoch is seen as determined to acquire the company and could probably beat any other offer. Other possibilities for the company include exploring partnerships with other media companies or keeping Dow Jones in family hands but allowing for a buyout of common shareholders.
Related stories:
- Ottaway Opposed to News Corp.’s Bid
- Dow Jones to ‘Take No Action’ on Murdoch Offer
- Murdoch Makes $5 Billion Offer for Dow Jones
