Murdoch Nearing Dow Jones Deal?
Posted on Jul 6, 2007
A weekly British business magazine, appropriately named The Business, reported Friday that media tycoon Rupert Murdoch had successfully added Dow Jones & Co. Inc. to his News Corp. empire, but other sources insist the deal is not yet sealed.
Editor & Publisher:
The Business report said that sources acting for the Dow Jones board said that negotiations on the deal have been completed and that the board is confident it will be accepted by the Bancroft family, which has a majority stake in Dow Jones, over the next few days.
The report, written by Andrew Neil, a former Murdoch lieutenant and the chief executive of Press Holdings Media Group, which owns The Business, said that the deal was delayed until agreement was reached on a legally enforceable undertaking by Murdoch to “preserve the Wall Street Journal’s editorial independence.”