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BOSTON/NEW YORK - Members of the Bancroft family, which controls Dow Jones, met in Boston today to consider a US$5 billion ($6.3 billion) offer by Rupert Murdoch's News Corp for the publisher of The Wall Street Journal.
Winning over the family, which controls 64 per cent of Dow Jones' voting shares, is a major hurdle Murdoch must clear to buy Dow Jones, which has been under Bancroft control for more than a century.
Their decision is far from certain as an undetermined number of Bancrofts oppose the deal, fearing Murdoch would interfere with Dow Jones' news operations to further his business interests.
One prominent shareholder and board member, Christopher Bancroft, is seeking alternatives to Murdoch and could block the bid.
Bancroft, speaking to reporters, said that he expects the family to decide by Friday whether it will recommend selling the company.
"We're still undecided," said Bancroft, who added that the meeting continues, but that he was leaving early to return to Texas where he lives and works. "Everyone has to decide for himself."
- REUTERS
