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BtoB

Dow Jones ready to approve Murdoch deal

Published on .

New York—Dow Jones & Co. said late Tuesday that its board would agree to News Corp.’s $5 billion bid to acquire Dow Jones, publisher of The Wall Street Journal, if the Bancroft family signs on.

The board voted last night to recommend the deal to Dow Jones shareholders.

Board members Leslie Hill and Dieter von Holtzbrinck abstained from the vote, while Christopher Bancroft—who has been actively seeking alternatives to the News Corp. bid—left the meeting early, according to the Journal.

The Bancroft family, which controls 64% of voting shares, is expected to meet this week to consider the board’s decision. According to the Journal, about half of the family members are leaning toward approving a deal.

—Matthew Schwartz

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