By: (AP) The New York Times Co. approached Dow Jones & Co., publisher of
The Wall Street Journal, about the possibility of acquiring the company last year but was turned down.
The talks were reported in this week's issue of the
New Yorker magazine. The story said that Times Chairman Arthur Sulzberger Jr. personally appealed to a Dow Jones director who is also a trustee of the Bancroft family, the controlling shareholder of Dow Jones.
Brigitte Trafford, a spokeswoman for Dow Jones, did not dispute that the approach was made but declined to comment on the specifics of the talks or on other aspects of the article.
"At various times, there have been merger or acquisition inquiries from companies," Trafford said. "They have always been brought to the attention of the Bancroft family trustees and the board of directors. Both the Bancroft family and the board have always reaffirmed the company's intention to remain independent."
A spokeswoman for the Times Co. declined to comment.
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