Boards Approve News Corp.’s Buyout Of Dow Jones

News Corp’s has bought out Dow Jones, with the boards of both boards and the Bancroft Family approving deal. News Corp will pay $60 a share and the substantial fees incurred by the Bancroft Family in doing the deal. A nearly 1700 word letter by Wall Street Journal Publisher Gordon Crovitz downplays fears of editorial integrity being compromised: “While the importance of the continued integrity of our journalism cannot be overstated…As owner, Mr. Murdoch will be fully accountable for the company, from the credibility of its brands to its financial performance.” He also adds that if DJ wasn’t already of value, Murdoch wouldn’t be interested in it.