Tue Jul 31, 2007 10:44AM EDT
CHICAGO (Reuters) - Dow Jones & Co. Inc.'s controlling Bancroft family "has accepted" News Corp.'s $5 billion offer to buy the publisher of the Wall Street Journal, an executive of a Dow Jones unit said on Tuesday.
"The Bancroft family has accepted," John Prestbo, editor and executive director of Dow Jones Indexes, told reporters on Tuesday in Chicago. Dow Jones "will be part of News Corp," he said.
Prestbo told Reuters the information came from an internal company memo.
CNBC's Faber: News Corp. to Succeed In Buying Dow Jones
By CNBC.com | 31 Jul 2007 | 11:14 AM ET
Rupert Murdoch's News Corp. will succeed in its months-long effort to acquire Dow Jones, publisher of the Wall Street Journal, CNBC's David Faber reported.
A definitive agreement is expected as early as tonight, Faber said, citing people familiar with the situation.
The accord would end months of wrangling among the Bancroft family, which controls Dow Jones. Many members had opposed the $5 billion offer, which became public on May 1, fearing Murdoch would interfere with the Journal's editorial independence. But monetary issues appeared to have caused many family members to switch their votes.
"They suddenly realized that if they were to turn down this deal, they would also be on the hook for paying all those fees to their advisers," Faber said, including Merrill Lynch and the law firm of Wachtel Lipton. "It adds up to a big number. So they started to change their minds."
Family members decided that if they approved the deal, they could try to get Murdoch to cover the fees, Faber said. And that resulted in a large enough percentage of Bancrofts favoring the deal.
Still to be determined is how much of the legal and advisory fees News Corp. will cover in the transaction, Faber said.
"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."
Meanwhile, a Dow Jones executive said the Bancroft family "has accepted" News Corp.'s $5 billion offer, Reuters reported.
"The Bancroft family has accepted," John Prestbo, editor and executive director of Dow Jones Indexes, told reporters on Tuesday in Chicago. Dow Jones "will be part of News Corp," he said.
$$$$$$$$$$$!!! Shit!!!
そして、自分にとってもいよいよ新しい一章を始める時が来た。すでにぶ厚い本になっているような気がするが、この章は特に長くなることを期待する。
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自民党内に安倍首相退陣の声がある。党総裁としての責任は当然あるだろうが、参議院選挙は政局に関係なく3年に一度実施されるもので、与党としては全く悪い時期に選挙となってしまった。社保庁のずさんな年金管理は、ずっと以前からの問題で、明らかになった時に偶然首相だった人に責任をかぶせるのは行き過ぎではないか。首相就任からわずか10カ月。短命だった宇野内閣や羽田内閣とは事情が異なる。力を発揮するには短すぎる。