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NWS-DJ: Bancrofts’ Shift Surprises; Murdoch Bid Seemed Stalled

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A month ago, the news that Rupert Murdoch through News Corp. was willing to pay $60 per share to take over Dow Jones sent shock waves through the news industry and investment community. Thursday’s announcement of the Bancroft family’s unexpected decision to entertain the News Corp. bid and explore other options (code for “let’s make sure everyone knows we tried”) set off a repeat performance. Meanwhile, no immediate plans for a meeting between Murdoch and the Bancrofts — and no real sense of timeline.

NYT: “According to people close to the family who declined to be identified, the family wants any bidder to meet two conditions. The first is more money, which means that any bidder, including Mr. Murdoch, would have to beat his first offer of $60 a share. Second, and perhaps more important, the family wants an independent overseer to guarantee what it called