August 1st, 2007
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News Corp. and Dow Jones & Co. have finally decided on a 5.6 billion dollar deal. This will give News Corp. owner Rupert Murdoch control of the Wall Street Journal and other large publications such as Barron's magazine and Marketwatch.
Dow Jones stockholders will receive $60 per share through the deal. The Bancroft family, long time executors of Dow Jones and owner of 37%, has promised to vote for the deal.
The two sides have agreed to form a five member panel to ensure editorial integrity of the publications. News Corp. will also appoint a Bancroft family member or a person that both sides agree on, to its board.
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