The Bancroft family, which is opposing Rupert Murdoch's bid for Dow Jones, has owned the publisher of the Wall Street Journal since the turn of the 20th Century.
Dow Jones was founded in 1882. Clarence Barron–- the namesake for Barron’s magazine –- bought the company in 1902 for $130,000.
The marriage between Barron’s stepdaughter and Hugh Bancroft lay the foundation for Bancroft family domination of Dow Jones. By 1928, the Bancrofts controlled the company.
Today, the Brancroft family owns about 64% of the company’s voting shares. The stock is held by as many as 20 members of the family.
News Corp.’s bid comes at a difficult time for the newspaper industry as costs of newsprint, production and distribution continue to rise, eroding profits at The Wall Street Journal and other papers.