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)

(Newser) – 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. (Read more Rupert Murdoch stories.)

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