BREAKING: CNBC Reports Dow Jones Sale

CNBC reported a few minutes ago:

News Corp. to Succeed In Buying Dow Jones

… “It did come awfully close, in fact, closer than many had anticipated,” Faber said. “But at the end of the day, according to people who were working on this, a number of the Bancrofts who had been somewhat vocal in their opposition–Chris Bancroft for example–seemed suddenly at the realization that they were going to have to pay all these banking fees said ‘Wait a second. Hey, if you pay my fees, I’ll give you my vote.’ And that may have turned it.”

The Journal, meanwhile, reported that Bancroft members owning 32% of the voting stock have agreed to support Murdoch’s bid. One key holdout, a trust overseen by a Denver law firm
representing 9.1% of Dow Jones’s voting shares changed its mind and agreed to back the deal, the Journal said.

The Journal added that News Corp. has scheduled a board meeting for 4 p.m. this afternoon, while Dow Jones’s board is due to meet this evening… [MORE]

At the risk of sounding snooty: told ja so. (on July 6)


: The Wall Street Journal is now reporting it, as is The New York Times. (They’re the Number Two and Number Three largest newspapers in America, respectively, albeit not necessarily respectfully). The Numero Uno Paper, USA TODAY has yet to be heard from.

This may well be remembered as a very dark day in American journalism.

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