'WSJ': Rupert Murdoch Will Buy 'WSJ'
And we're done. From the Wall Street Journal:
Bancroft family members owning 32% of Dow Jones & Co.'s overall votes have agreed to support News Corp.'s $5 billion bid for Dow Jones, the publisher of The Wall Street Journal, according to people familiar with the matter.
That level of support is likely more than enough to guarantee News Corp. enough votes to clinch the deal. Nevertheless News Corp. was hoping to collect even more votes from Bancroft family members, as a way of solidifying its majority and demonstrating to the broader public that it has a mandate from the family to take control of the company. The Bancrofts have 64.2% of the overall votes in Dow Jones.
News Corp. has scheduled a board meeting for 4 p.m. this afternoon, where it will decide its next step. Dow Jones's board is due to meet this evening.
Don't you sense a hint of regret in that "Nevertheless..."? Like, okay, Murdoch, you may have won this time, but you'll never be legitimate in our eyes. Which is probably just as well for Rupert: He's gonna fire everybody anyway!
