Bancroft family accepts News Corp. deal

Posted by Leah McBride Mensching on July 31, 2007 at 9:49 PM

The Bancroft family has accepted News Corporation's $5 billion buy-out offer of Dow Jones & Co., a Dow Jones executive announced Tuesday.

“The Bancroft family has accepted,” John Prestbo, editor and executive director of Dow Jones Indexes is quoted as telling reporters in Chicago. The publisher of The Wall Street Journal “will be part of News Corp.,” he said.

Prestbo told Reuters the information on the decision made by the Bancroft family, which controls a majority of shareholder votes, came from an internal company memo.