An internal Dow Jones memo confirmed that the Bancroft family accepted Rupert Murdoch's offer to purchase the company late Monday evening. An official press release is expected this evening. Dow Jones is up 12% today on the news. I'll have full coverage of the details tomorrow.
Apparently the deal wasn't reached until after the 5pm deadline imposed by News Corp. Many involved were still reeling from the announcement earlier in the day that a deal was "highly unlikely." It does appear however that after a 3 month courtship a deal has been reached that will satisfy all parties.
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An internal Dow Jones memo confirmed that the Bancroft family accepted Rupert Murdoch's offer to purchase the company late Monday evening. An official press release is expected this evening. Dow Jones is up 12% today on the news. I'll have full coverage of the details tomorrow.
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