Clock Ticking For Murdoch-Dow Jones
So the word is that the Bancroft family has until 5:00PM to approve the sale of the Wall Street Journal. In a statement, News Corp said it was “highly unlikely” that they would proceed with their bid unless they had clear backing from the Bancrofts. Right now, a Bancroft approval for selling Dow Jones is looking iffy.
On the NYSE, Dow Jones’ shares are on a roller coaster. At 12:30pm, they were selling for $50.93. As of 3:30PM, they’re $43.84. Interesting.
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