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It's Official: Dow Jones Shareholders Approve Murdoch Bid

AP   |  Seth Sutel   |   December 13, 2007 12:12 PM

Read More: Bancroft Family, Dow Jones, Murdoch Dow Jones, Rupert Murdoch, Rupert Murdoch Dow Jones, Breaking Business News
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Shareholders of Dow Jones & Co. gave final approval Thursday to a $5 billion bid from Rupert Murdoch's News Corp. to acquire the financial publishing company, the final step needed before one of the world's most influential newspapers, The Wall Street Journal, changes hands.

The controlling shareholders of Dow Jones, the far-flung Bancroft family, had initially rebuffed Murdoch's approach this spring, but eventually enough of them agreed to accept his offer of $60 a share to ensure the bid would succeed.

Dow Jones held the shareholder vote in a hotel in the financial district of lower Manhattan, near its headquarters. The formal closing of the deal is expected to occur either later Thursday.

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- ElPerro I'm a Fan of ElPerro permalink
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I forgot, exactly which sign of the coming Appocalypse is this?

    Favorite    Flag as abusive Posted 04:30 PM on 12/14/2007
- truthyguy I'm a Fan of truthyguy permalink

And it's a great day for freedom of the press and independent journalists everywhere.

    Favorite    Flag as abusive Posted 09:12 PM on 12/13/2007
- letsgetsmart I'm a Fan of letsgetsmart permalink

Surprise surprise. Lets all run out and buy a wall street journal. But then again, Vegas and Atlantic City and other places are always hoppin so I guess Americans just like to be screwed. The scammers must be on a major high because of all of the evidence that Americans are becoming more gullible.

    Favorite    Flag as abusive Posted 06:51 PM on 12/13/2007
- dax49 I'm a Fan of dax49 permalink

the selling of america!

    Favorite    Flag as abusive Posted 06:03 PM on 12/13/2007
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