Happy Returns for Dow Jones Insiders
It's the sort of story you'd expect to read about in The Wall Street Journal: 23 people making a $360 million profit in just a few seconds.
The kicker, in this case, is that those people are the directors and officers of Dow Jones (DJ), the parent company of that financial newspaper, and in some select cases, accepting the bid could deliver a nice boon to former execs who hold options that lie deep underwater.
Rupert Murdoch and News Corp.'s (NWS) extraordinary $5 billion offer for the legendary newspaper company yesterday probably shouldn't come as a surprise to those who have followed the aging press tycoon's career. For years he has sung the praises of the Journal and urged it to become a right-of-center mainstream alternative to The New York Times.
What must make this especially tempting is that it came out of the blue. Until Murdoch slapped his offer on the table yesterday morning, Dow Jones' stock, like that of other traditional newspaper companies, had been in steady decline for five years.Tuesday Dow Jones said the Bancroft family, which owns the controlling interest in the company through its special voting shares,
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