In late breaking news, the Bancroft family, the controlling shareholders of Dow Jones (DJ),said they will consider the $5 billion takeover bid from News Corp. (NWS) and meet with Rupert Murdoch to discuss it. Shares are soaring in after hours trading. Is the announcement a sign that the company’s 125-year history as an independent media empire is about to end - or are the Bancrofts just paying lip service to agitated investors?
Jeff Macke doesn’t think it means anything. The family is just throwing shareholders a bone, he says.
Word On The Street
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