Murdoch Comes Out On Top

Published: July 31, 2007, 2:56 pm

Tags: featured top post, news, features, bancroft family, dow jones, knight ridder, news corp, rupert murdoch, the tribune, wall street journal

Today the battle ended. Rupert Murdoch has officially been granted enough votes by the Bancroft family to buy Dow Jones & Company, publisher of The Wall Street Journal, for $5 billion. Trusts and family members that represent about 32% of the shareholder vote were reported to have shown their support of the offer, although details are still being ironed out. Murdoch has spent his career building a global media empire called News Corporation that has a net worth of $28 billion and counting. The verdict released today is certain to boost that number. Included under the News Corp. umbrella already are over 100 newspapers worldwide, online social network giant MySpace, various satellite broadcast operations and the Fox television network. This announcement also doubles as the official end of an era for Dow Jones, The Journal and the Bancroft family that has had control over the company for over 100 years. There was a split in the family deliberations. Many of the three dozen members

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