What You Should Have Read, July 30, 2007

What You Should Have Read, July 30, 2007

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Bancrofts' Jockeying Over Murdoch Deal Goes Down to the Wire
The Wall Street Journal reports that the Bancroft family and its advisers headed into the final hours of deliberations over the fate of Dow Jones. Michael B. Elefante, the family's lead trustee, indicated to some on the board last night that he has about 28% in favor of a sale, and Rupert Murdoch needs at least 30% of the family vote in order to be able to acquire the company. The family has a deadline of 5 p.m. to let Mr. Elefante know how they wish to vote. A midday update said News Corp. will be "highly unlikely" to proceed with the offer if it doesn't get the family's support.
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