NEW YORK - The board of US media firm Dow Jones & Co voted to approve a five million dollar takeover bid by Rupert Murdoch's News Corp., Dow's business daily The Wall Street Journal reported late Tuesday.
Two directors abstained from the vote, which has divided key shareholders over concerns for the prestigious title's editorial independence, and one member left the meeting early, the newspaper said.
This was Chris Bancroft, of the family that holds a controlling stake in Dow Jones, who opposes the sale to Murdoch. The deal will now pass to the Bancrofts for their approval.
07/18/2007 03:49