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NEW YORK The board of Dow Jones Tuesday voted in favor of News Corp.’s $5 billion offer for the company. That leaves one last hurdle for News Corp.: approval by the Bancroft family, which controls 64 percent of the company’s voting power.
In a statement issued by Dow Jones today, the company said that Michael Elefante, a representative of the Bancroft family and a director of Dow Jones, informed the firm that the family was “evaluating the proposed transaction.”
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