MediaBuyerPlanner: The board of Dow Jones has voted in favor of recommending to stockholders a tentative deal to sell to News Corporation, writes The New York Times. The Bancroft family, the controlling shareholders of Dow Jones, still get to make the final decision.
If the family rejects the offer, Dow Jones could continue to lose revenue, which could lead to a sharp drop-off in the value of the company’s shares. The family is expected to begin reviewing the proposed transaction Monday.
Two family members on the board have been actively seeking alternative bids, while several members of the Bancroft family have made their disapproval of the proposed deal evident.
Related stories:
- Dow Jones Still Hopes for Alternative Bid
- Murdoch, Dow Jones Reach Agreement, Await Bancroft Approval
- Dow Jones Advisors, News Corp. Hammering out WSJ Independence
- GE, Pearson Drop out of Dow Jones Race
- GE, Pearson Considering Dow Jones Bid
- Dow Jones Investor Urges Bancroft’s to Sell
- Bancroft Family to Meet in Private about News Corp. Offer
- Murdoch Acquisition of Dow Jones Could Threaten CNBC, Reuters
