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Death in the family

The news that Dow Jones & Co.'s controlling Bancroft family will consider selling the company, including to Rupert Murdoch's New Corp., while not a surprise, is still a shock. Neither public company mentioned as a potential suitor in todays' New...

By Dean Starkman The news that Dow Jones & Co.'s controlling Bancroft family will consider selling the company, including to Rupert Murdoch's New Corp., while not a surprise, is still a shock. Neither public company mentioned as a potential suitor in todays' New York Times, General Electric Co., and News Corp., is a suitable owner, each for its own reasons. Closely held Bloomberg L.P. is problematic, at best. That Maurice R. Greenberg, former CEO of the most secretive, most convoluted of all public companies, American International Group, Inc., should even be taken seriously is an unfunny joke, for reasons I'll get to if it ever becomes necessary. The Bancrofts' stated commitment to DJ's "editorial independence, integrity and journalistic freedom" should not to be taken lightly, but the family is in a tight spot.

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About the Author
Dean Starkman writes and edits The Audit. He is CJR's Kingsford Capital Fellow.
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