Bancrofts to Consider News Corp. Bid

BOSTON, June 1: The
Bancroft Family has said that it will meet with News Corporation to discuss the
$5-billion bid for Dow Jones & Company, publisher of The Wall Street
Journal.

The Bancrofts, which
control 64 percent of Dow Jones’ voting stock, had previously rejected the
offer from Rupert Murdoch’s News Corp. In a statement issued following a
special meeting of the Board of Directors, the family noted: "After a
detailed review of the business of Dow Jones and the evolving competitive
environment in which it operates, the Family has reached consensus that the
mission of Dow Jones may be better accomplished in combination or collaboration
with another organization, which may include News Corporation. Accordingly, the
Family has advised the company's Board that it intends to meet with News
Corporation to determine whether, in the context of the current or any modified
News Corporation proposal, it will be possible to ensure the level of
commitment to editorial independence, integrity and journalistic freedom that
is the hallmark of Dow Jones.”

The Bancrofts also said
they are open to other competing bids.