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Dow Board Approves Murdoch Deal

HeadlineJul 18, 2007

And finally, the News Corp. media tycoon Rupert Murdoch is a step closer to owning the Dow Jones & Company and The Wall Street Journal. On Tuesday, the Dow Jones board voted to approve the $5 billion deal. The sale faces a final hurdle with a vote from Dow’s controlling shareholders, the Bancroft family. The Bancrofts initially opposed the deal amidst concerns Murdoch would interfere with the paper’s editorial independence. The union of Wall Street Journal reporters has also opposed a sale to Murdoch.

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