Rupert Woos Bancrofts

Letter promises seat on News Corp. board, editorial independence for Journal
By J. Kelman,  Newser User
Posted May 14, 2007 5:13 PM CDT
Rupert Woos Bancrofts
Media baron Rupert Murdoch, who controls News Corp., speaks at the company's Global Energy Initiative on Wednesday, May 9, 2007 in New York. News Corp. reported a 6.2 percent profit increase for its latest quarter Wednesday on higher earnings from movies including "Night at the Museum" and growth in...   (Associated Press)

Rupert Murdoch doesn't want to shake things up at Dow Jones—or so he implied in a weekend missive wooing the Bancroft family. In the folksy, flattering letter, Murdoch called himself "first and foremost" a "newspaper man," and promised to appoint an independent editorial board for the Wall Street Journal should he take over the company.

Murdoch said he would welcome a Bancroft family member on the News Corp. board. But he stopped short of raising his offer for the company, which still stands at $60 a share. The Bancroft family, which holds the controlling interest in Dow Jones, rebuffed Murdoch's initial offer. (More Rupert Murdoch stories.)

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