(WSJ's) Bancroft family to meet with Murdoch

Source: AP

NEW YORK --After initially rebuffing an offer from Rupert Murdoch's News Corp., the Bancroft family says it is ready to meet with the media mogul to discuss his interest in buying Dow Jones & Co., the publisher of The Wall Street Journal.

The Bancrofts, who control the shareholder vote of Dow Jones, said in a statement late Thursday that after reviewing Dow Jones and the rapidly changing arena of business news and information in which it operates, "the mission of Dow Jones may be better accomplished in combination or collaboration with another organization, which may include News Corporation."

The family said it remained committed to preserving the Journal's independence and integrity and were willing to meet with Murdoch to determine whether they could be assured those qualities would continue under his ownership. They also said they would consider other offers.

Despite the Journal's prestige and tremendous clout in the business world, Dow Jones remains a relatively small company compared with large media operators such as Murdoch's News Corp. Reuters Group PLC and Bloomberg LP have made huge inroads in the business of providing real-time financial news and information to investors.



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compelled to sell to a buyer if the share price is appropriate? Even if the majority of the shareholders want to keep their stock?