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  • "The board of Dow Jones & Co. voted to approve News Corp.'s $5 billion bid for the company last night, with two directors abstaining from the vote and one leaving the meeting early, according to people familiar with the matter.... [A source said] legal liability prevented the two Bancroft members from registering "no" votes, but that their sentiment was against the deal." [WSJ]
  • News Corp. will "require family members to promptly indicate their willingness to support a deal. People familiar with the matter said that Mr Murdoch was pushing for a swift resolution of the matter and that the offer could be withdrawn if deliberations drag on.... Mr Murdoch resisted pressure to raise his offer of $60 per share." [FT]
  • "The company and its board have been under pressure to sell from shareholders, who have bid up Dow Jones stock as high as $61.76, no longer considering the fundamentals of its business. The board may have felt even more pressure to sell ahead of the company's earnings announcement tomorrow, which is expected to report disappointing results. Dow Jones stock closed yesterday at $56.45." [NYT]
  • "Under the terms outlined Tuesday, some Dow Jones shareholders could receive News Corp. stock, reducing the tax effect of the deal." [LAT]
  • Is the fact that former WSJ managing editor Paul Steiger is running the paper's coverage of the takeover attempt a conflict, given that "Murdoch 'suggested the possibility of nominating [Mr. Steiger] to the board of News Corp.'"? Um, the entire thing is a morass of conflict, why should anyone emerge unscathed? [NYO [Image: Getty]