News Corp acquires Dow Jones

Media Asia 01-Aug-07, 01:42

NEW YORK - News Corp and Dow Jones have signed a merger agreement, which will see Rupert Murdoch’s News Corp complete a US$5.6 billion acquisition of Dow Jones.

The deal, which was finalised following lengthy discussions among the controlling Bancroft family, will see shareholders receive $60-per-share, along with the establishment of a five-member committee to ensure the editorial independence and integrity of Dow Jones’ publications is maintained – one of the key concerns of the Bancroft family.

Rupert Murdoch (pictured) said in a statement: “Given the Bancroft’s long and distinguished history as custodians of Dow Jones, we appreciate how difficult this decision was for some family members. I want to offer the Bancrofts my thanks, and an assurance that our company and my family will be equally strong custodians.”