Dow Jones Board Approves News Corp. Deal

NEW YORK, July 18: The board of Dow Jones & Company has
voted to approve News Corporation’s $5-billion buyout offer, but the final
decision is still yet to be made by the Bancrofts, the family that owns a
controlling interest in the company.

According to The New
York Times, two of the four Bancrofts who are
on the Dow Jones board abstained from the vote, and a third left the meeting
early. The family is said to be considering News Corporation’s, and Rupert
Murdoch’s, influence on the editorial standards of Dow Jones publications, most
notably The Wall Street Journal.

Michael B. Elefante, a representative of the Bancroft Family
and a director of Dow Jones, has informed the Dow Jones board that members of
the Bancroft Family are still evaluating the proposed transaction with News
Corporation.