Happy Returns for Dow Jones Insiders

Stock quotes in this article: NWS , CPB , DJ , AXP  

Kann's successor as chief executive, Richard Zannino, took the helm last summer after five years as a senior executive. He, too, was sitting on hundreds of thousands of options that were worthless below $40.

Murdoch's bid would value his shares and options at $11.9 million.

Those figures are, of course, provisional. Were the company actually to be taken over, you would find head honchos collecting further goodies in one form or another. They always do.

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In keeping with TSC's editorial policy, Brett Arends doesn't own or short individual stocks. He also doesn't invest in hedge funds or other private investment partnerships. Arends takes a critical look inside mutual funds and the personal finance industry in a twice-weekly column that ranges from investment advice for the general reader to the industry's latest scoop. Prior to joining TheStreet.com in 2006, he worked for more than two years at the Boston Herald, where he revived the paper's well-known 'On State Street' finance column and was part of a team that won two SABEW awards in 2005. He had previously written for the Daily Telegraph and Daily Mail newspapers in London, the magazine Private Eye, and for Global Agenda, the official magazine of the World Economic Summit in Davos, Switzerland. Arends has also written a book on sports 'futures' betting.

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