Blog Post

News-DJ: Major Bancroft Member Opposes Offer; Decision By Friday; Sales Team Likes It

Updated below: Dow Jones’ fate could be sealed by Friday: Members of the Bancroft family will decide by then on selling the company to News Corp, reports Reuters. One prominent shareholder and board member, Christopher Bancroft, is seeking alternatives to Murdoch and could block the bid…Bancroft said that he expects the family to decide by Friday, one way or the other.
WSJ: At the Boston meeting today, the reaction was mixed: While they viewed the offer as a substantial one that would give Dow Jones much-needed resources to expand, they acknowledged that it would be difficult to guarantee that WSJ’s editorial independence would survive a sale intact even with the agreed guidelines.

Updated: Jane MacElree, a family trustee who votes shares totaling about 15 percent of Dow Jones’s total shareholder power, was in the anti-Murdoch camp, the WSJ story says..her decision could put her at odds with some of her seven children, who support the deal.

Meanwhile, in an interesting story, AdAge canvasses the sale steam with Dow Jones (anonymously, of course), and says that they’re sold on the deal. The sales execs are “hoping Murdoch will shake up an ad-sales team that is still accused of being too oriented around order-taking. They also hope he’ll provide some much-needed marketing dollars to push the paper to potential advertisers. Others hope the integration of the Journal with News Corp.’s other assets — such as Fox News and the coming Fox Business Network — will improve resources and reputation on all sides.”