Murdoch's Next Challenge: Gearing Up For Business-News Battle
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Rupert Murdoch,
New York,
United States,
Australia,
London,
Jeff Jarvis,
Reuters Group PLC,
News Corporation Limited,
William Cox,
Warren Buffett,
Pearson, Plc,
Sam Zell
,
Breaking Media News
Dow Jones & Co. is considering a possible deal under which it would pay legal fees of shareholder Christopher Bancroft in a bid to get further support for its deal with News Corp., the Wall Street Journal reported on its Web site on Thursday.
The payment would be in exchange for Bancroft not blocking a trust he oversees from voting to approve the sale of Dow Jones to Rupert Murdoch's News Corp for $5.6 billion, including debt.
The trust holds 13.2 percent of Dow Jones's voting power, the paper said, adding a deal would increase to 50.6 percent the amount of family votes for the deal.
Wall Streeet Journal | Martin Peers | August 2, 2007 07:50 AM