By: E&P Staff
After weeks of fact-finding, speculation and media commentary, Bancroft family members met in Boston on Monday to discuss what to do about the lucrative bid for their Dow Jones & Company offered by Rupert Murdoch’s News Corp. It has been approved by the board but it is up to them.
They emerged close-lipped and will take several days to vote.
?It was not acrimonious at all,? Christopher Bancroft, a Dow Jones board member, said as he left the meeting yesterday at the Boston Hilton, according to The New York Times.
The Times account includes the following:
“Family members traveled to Boston from several states to attend, while others took part by telephone, and in all some two dozen participated, people briefed on the meeting said.
“There was no debate, they said, only a series of speeches. And as expected, the family was deeply divided; people close to them said the vote was too close to call.
“Mr. Bancroft and a cousin, Leslie Hill, also a Dow Jones director, spoke against the sale, according to a person familiar with the deliberations. This person said that the two other people who represent the family on the board, another cousin, Elizabeth Steele, and the family?s chief lawyer, Michael B. Elefante, spoke in favor.”