Without any further ado...NEW YORK (Reuters) - Dow Jones & Co. Inc. Chief Executive Richard Zannino tentatively agreed on Monday to a $5 billion takeover bid by News Corp., though the company's controlling Bancroft family remains divided on the deal, the Wall Street Journal reported.
The agreement in principle will be put to the full Dow Jones board on Tuesday evening, said the newspaper, which is Dow Jones' flagship publication and the asset most coveted by News Corp. Chairman and Chief Executive Rupert Murdoch.
Michael Elefante, the Bancroft family's lead trustee, has scheduled a meeting for Thursday to present the agreement to all Bancroft family members before asking for their final vote, the Journal said on its Web site.
Elefante is expected to give the family several days to make a decision, suggesting a final resolution could be achieved next week, it added.
http://www.reuters.com/article/innovationNews/idUSSP1151220070717
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