Murdoch's News Corp. OKs Bid for Dow Jones
Following overnight negotiations, the board of Rupert Murdoch's News Corp. met Tuesday afternoon and approved Murdoch's bid to purchase Dow Jones & Co., which owns The Wall Street Journal. The deal is valued at $5 billion.
Members of the Bancroft family, which has had a controlling interest in the company for a century, hold the key to the merger.
The Dow Jones board meets Tuesday evening.
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