Skip navigation
Watchlist Sponsored By :


Current DateTime: 05:14:11 30 Nov 2009
LinksList Documentid: 24355697
  • The Cost of True Love

      In the popular holiday song "The 12 Days of Christmas," the cost of gifts - from the 12 drummers drumming to a partridge in a pear tree - is quite pricey.

  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

FEATURED QUIZZES


Current DateTime: 05:14:11 30 Nov 2009
LinksList Documentid: 33793611
  • Test Your Google IQ

      How much do you know about the most popular search engine in the world? Take the following quiz and find out.

  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.


Current DateTime: 05:14:11 30 Nov 2009
LinksList Documentid: 24890560
  • Holiday Central

      There are plenty of reasons to believe that this Christmas holiday season will not be as bad for retailers as last year.

  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

powered by digg
Key Dow Jones Holder to Vote Against Murdoch Bid: WSJ
By: Reuters | 27 Jul 2007 | 03:54 PM ET
Text Size

A branch of the Bancroft family will vote against News Corp's $5 billion bid for Dow Jones, putting pressure on Rupert Murdoch to raise his offer, The Wall Street Journal reported its Web site Friday.

Shares of Dow Jones [DJ  Loading...      ()   ], which publishes The Wall Street Journal, were down 1.06 percent at $53.15 in afternoon trading on the New York Stock Exchange.

The newspaper also reported that the Denver branch of the family, which holds 9.1 percent of Dow Jones's voting stock and supports the News Corp. [NWS  Loading...      ()   ] deal, wants Murdoch to raise his $60-per-share bid.

The Denver trust has argued that shareholders who own super-voting Class B shares should get a 10 percent to 20 percent premium.

News Corp has no intention of raising its bid, the newspaper reported.

An official at Holme Roberts & Owen LLP, which reportedly administers the trust, declined to comment. News Corp and Dow Jones officials were not available to comment.

The report comes after Bancroft family members met advisers in Boston Monday to review Murdoch's offer. Dow Jones owns the Journal, the Barron's investor newspaper, the MarketWatch.com financial news Web site and the Dow Jones Newswires.

Some members of the family oppose the sale because they fear that Murdoch would meddle with Dow Jones's news operations to further his business interests.

Michael Elefante, a Dow Jones board member and chief trustee of the Bancroft family's shares, is polling family members on whether they would favor the buyout.

He is expected to get the results by early to mid-next week, a source familiar with the matter said.

Internet entrepreneur Brad Greenspan said on Friday he is still in talks with the Bancrofts over a competing proposal.

Greenspan wants to load up Dow Jones with debt to fund digital expansion, and wants to start a third U.S. business news channel. He also has proposed lending the Bancrofts money to buy out family members who want to sell their shares at $60 each.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
  • UPS truck
  • UPS is giving its customers the option to offset its carbon emissions when sending a package.
  • Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
  • alligator
  • Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
  • A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
  • The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
ADD COMMENTS
Remaining characters


Current DateTime: 01:13:32 30 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 11:44:57 30 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 04:05:34 30 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 11:23:58 30 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters