Murdoch close to Dow Jones wish

Global - Rupert Murdoch has moved one step closer to acquiring Dow Jones as the latter released a statement to the press announcing that the company's board of directors would be prepared to approve and recommend to its stockholders, including the Bancroft Family, a merger agreement with News Corporation.

News Corporation has also indicated that it would be prepared to acquire all of the outstanding shares of Dow Jones' common stock and Class B common stock for $60 per share in cash, if members of the Bancroft Family agreed to its terms.

Although the news is good for Murdoch, the Bancroft Family has throughout the time since News Corporation declared its interest in Dow Jones, been less than convinced of the proposal.