Dow Jones 'agrees' Murdoch bid

News Corp's $5bn bid for Wall Street Journal publisher 'agreed in principle'.

    Rupert Murdoch's News Corp has offered $60-a-share for Dow Jones [AFP]
    The Wall Street Journal is Dow Jones' flagship publication and an asset coveted by Rupert Murdoch, News Corp's chairman and chief executive.
    Opposition to offer

    Elefante is expected to give the family several days to make a decision, suggesting a final resolution could be achieved next week.

    Representatives for the Bancrofts, who control 64 per cent of Dow Jones's voting power, and News Corporation declined to comment.

    Some Bancrofts - as well as many Dow Jones reporters and editors - have opposed the offer because they fear Murdoch's interference in the company's news operations to benefit his business interests.

    Other members of the family, along with many ordinary shareholders, were attracted by the $60-per-share price that News Corp offered, which was a 65 per cent premium to Dow Jones' market price when the deal was announced.

    The Wall Street Journal said Dow Jones chief executive Richard Zannino indicated to News Corp that the Bancroft family's position on the deal is too close to call.

    SOURCE: Agencies


    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.