Members of the Bancroft family met Monday afternoon to discuss a takeover proposal from media mogul Rupert Murdoch and News Corp. but the outcome of those discussions has not yet emerged, reported CNBC's David Faber.
"They may in fact decide to entertain or sit down and meet with Murdoch or perhaps a pair of their own advisors to meet with News Corp.'s advisors -- it is simply not clear," Faber said Monday afternoon. "But we can tell you that the Bancroft family or at least some parts of the family are engaged in the meeting at present and are discussing that News Corp. offer of $60 a share."
Earlier today, details emerged regarding a letter Murdoch recently sent to the Bancrofts, which own a majority interest in newspaper publisher Dow Jones. Murdoch said he will add a family member to News Corp. board should his proposed takeover offer be accepted.