It’s not over yet:
Some Bancroft family members want to meet Rupert Murdoch to discuss his $5bn offer for Dow Jones – but they face stiff opposition from relatives.
Mr Murdoch has been pressing for a meeting with the Bancrofts since they rejected his $60-per-share offer for the media company and its flagship Wall Street Journal nearly two weeks ago. The Bancrofts, with 64.2 per cent of Dow Jones’ Class B voting shares, represent the central obstacle between Mr Murdoch and one of the most influential media companies.
Insiders say some of the 35-odd family members vehemently oppose selling to Mr Murdoch at any price. They believe he would harm the journalistic integrity of an institution their family has jealously guarded for more than a century.
However, others have expressed a willingness to at least hear Mr Murdoch’s pitch. “There are a lot of different scenarios out there. You never say no. You can explore things,” one Bancroft told the Financial Times, adding that there was an ongoing discussion among the clan about doing so.