Dow Jones Controlling Shareholders To Reject Murdoch

Dow Jones Controlling Shareholders To Reject Murdoch

Just hours after Rupert Murdoch's News Corp. made an unsolicited offer Tuesday to buy Dow Jones & Co., publisher of The Wall Street Journal, the family that controls Dow Jones announced that it had rejected the bid.

The Bancroft family controls a little more than 50 percent of the votes at Dow Jones and announced after the stock market closed that it would reject the proposed bid.

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