Dow Jones board okays News Corp bid

Murdoch offers to buy 25 per cent stake in the publisher of the Wall Street Journal.

    The Bancroft family is yet to make a decision on the Murdoch deal [AFP]
    The deal is likely to be presented to family members on Monday.
     
    Family divisions
     
    The family, which has some three dozen adult members spread across the US, has been deeply divided over whether to sell to Murdoch.

    The Bancroft family has controlled the storied newspaper publisher for more than a century and views it as a public trust.
     
    Murdoch has said concerns he would meddle with the Journal's coverage are unwarranted.
     
    Dow Jones publishes The Wall Street Journal, the Barron's investor newspaper, the MarketWatch.com financial news Web site, and owns Dow Jones Newswires.
     
    Under the terms of the agreement, News Corp would buy all outstanding shares of Dow Jones's common and Class B stock for $60 per share in cash, Dow Jones said in a statement.
     
    Last week, Dow Jones negotiators met with supermarket billionaire Ron Burkle and internet entrepreneur Brad Greenspan to explore a possible counteroffer to Murdoch's bid, but no concrete offer has so far emerged.

    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.