»
After a four-and-a-half hour board meeting, directors of the Dow Jones & Company board said they would take no action on Rupert Murdoch’s $5 billion bid for the company.
According to the directors, the Bancroft family, Dow Jones’s controlling shareholder, opposes the offer, writes The New York Times. The board did not reject the offer outright, however, which means that Murdoch, known for his abilities as an undaunted deal maker, can still try to persuade the family.
Pressure to make a deal may come from hedge funds and arbitragers who have bought up much of the non-family shares of Dow Jones in anticipation of a deal. If the family shows no signs of considering the offer, the stock price may plummet. The article points out that it would take only a handful of Bancroft family members changing their positions to make a deal possible.
Dow Jones is working with Goldman Sachs and law firms Fried Frank Harris Shriver & Jacobson and Simpson Thacher & Bartlett. The Bancrofts have hired Merrill Lynch and the law firm of Wachtell Lipton Rosen & Katz.
Merrill Lynch was recently an adviser to the Tribune Company on its sale.
The Spanish Radio Association says Arbitron still has not addressed its concerns and research questions regarding the PPM and how “Hispanics are recruited and represented, and how the PPM panel is maintained.”
The SRA has been working with Arbitron in…
The Chicago Tribune’s new design will launch on Sept. 29, Tribune Co. chief operating officer Randy Michaels says. No details on the redesign have been released; the paper has already been decreasing its editorial pages to create a more even split…
Teens are not the best demo to target with cell phone advertising, according to a new study from comScore. Though they are cell phone-savvy, most of them - 70 percent - have their phones paid for by parents, which means…
CNN won its second night of coverage of the Democratic National Convention Tuesday. The network averaged 3.41 million viewers in the 8 p.m. to 11 p.m. time slot, despite the fact that Fox drew nearly even for the night.
Fox…
Generation Y is the most self-indulgent, Generation X is the most innovative, and Boomers are the most productive, while the “Silent Generation” and the “Greatest Generation” are the most admired, according to a recent survey by Harris Interactive, writes MarketingCharts.
Conducted for…
To encourage shoppers to buy more back-to-school items, retailers often implement “loss leader” strategies: that is, selling items at a loss or even giving them away in hopes that the reductions will attract shoppers who will then buy other, more…
