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July 25, 2008 11:56:25 AM CDT



Journal Owners Rebuff Murdoch Offer

Posted May 2, 07 9:36 AM CDT in Business 

(Newser) – The Bancroft family, which controls Dow Jones, rejected Rupert Murdoch's $5 billion offer for the media giant late yesterday—but their divided response to the unsolicited bid signalled to both News Corp. and other would-be buyers that a different offer might be acceptable.

The Bancrofts' 64% voting majority is distributed among some 20 family members; a spokesman said just over half of their shares would oppose the offer. News of the bid, which the Financial Times said was submitted two weeks ago, sent Dow Jones shares up 57% yesterday, and other newspaper stocks also rallied. Possible suitors include the New York Times, Washington Post, Gannett, and GE.

Source Financial Times (UK)

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Co., publisher of The Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $5 billion.   (Associated Press)
Co., publisher of the Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corporation to buy the company for $5 billion. The news sent shares of News Corp. soaring...   (Associated Press)
Co., publisher of The Wall Street Journal, said Tuesday, May 1, 2007 it has received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $60 per share, or $5 billion.   (Associated Press)
Co., publisher of the Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corporation to buy the company for $5 billion. The news sent shares of News Corp. soaring...   (Associated Press)
Co., publisher of The Wall Street Journal, said Tuesday, May 1, 2007 it has received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $60 per share, or $5 billion.   (Associated Press)
Co., publisher of The Wall Street Journal, said Tuesday, May 1, 2007 it has received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $60 per share, or $5 billion. (AP Photo/Mark...   (Associated Press)
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