Neophyte Director? No Problem for News Corp.

 

Updated from 5:14 p.m. EDT

Rupert Murdoch bristled at the notion that adding Natalie Bancroft, a 27-year-old opera singer living in Europe, to News Corp.'s (NWS) board was a disservice to the media empire's shareholders.

"That's rubbish," said Murdoch on a conference call with analysts following the company's first-quarter earnings release after Wednesday's closing bell. "The experts said Google's (GOOG) structure would be bad for shareholders."

Bancroft is News Corp.'s pick from her family, the controlling shareholders of Dow Jones (DJ), to join the media conglomerate's board as part of its agreement to buy the Wall Street Journal publisher.

Having bickered over finding a choice of their own beyond their deadline, the Bancroft family ceded their opportunity to choose their representative themselves.

"They're a funny family," said Murdoch.

In the long and convoluted process leading up to an agreement between News Corp. and Dow Jones, the opportunity for the Bancrofts to appoint a family representative to sit on News Corp.'s board was one way to ease the pain of selling the company. The representative was viewed as someone who could stand up for the protection of Dow Jones' storied media properties and their longstanding traditions in journalism.

According to The Journal, Natalie Bancroft is, "by her own admission, is a relative neophyte to the worlds of both journalism and commerce." She's reportedly a Formula One car-racing fan who studied music at a private conservatory in Lausanne and has never been an active player in her family's stewardship of Dow Jones.

TheStreet Premium Services    For Personal Service: 877-471-2967

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
New: ETF Profits
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Doug Kass
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,855.15 1,350.01 2,927.17 19.78
Oil *
118.14
UP
53.92
UP
7.37
UP
23.29
UP
0.09
10 Yr
1.98%
SPDR Gold
166.89
+0.42%
+0.55%
+0.80%
+0.46%
Data delayed 20 minutes

Top Stories and Tools

Brokerage Partners

After the Bell

Before the Bell

Booyah! Newsletter

ETF Daily

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet