Bancrofts Meet , Murdoch Cuts
"Tuesday," reports the Wall Street Journal, "Richard F. Zannino, the chief executive of Dow Jones, sent a note to employees saying the intense coverage of the News Corp. offer 'is finally showing signs of abating as there have been no significant new developments in recent days.'" That came, of course, in the wake of a couple of analysts' suggestion that Murdoch was going to walk away from his bid for the company. Whether or not you believe the prediction is at all credible, it did manage to briefly drive down Dow Jones' stock price, although shares rose again yesterday. The Journal also notes that the Bancroft family will meet in private today to discuss their options: "Some members of the clan believe the family should explore the matter further and look into possible alternatives to Mr. Murdoch's offer." Hopefully, they haven't heard about Murdoch's planned "multimillion-pound budget cuts... expected across News International's four titles after a fall in profits," which have already seen senior staffers departing those papers.
