Sarah Ellison of The Wall Street Journal reports Thursday that more than 60 percent of Dow Jones & Co. shareholders have approved selling the parent of The Journal, Barron’s and Marketwatch to News Corp.
Ellison wrote, “At the conclusion of a half-hour meeting at a Manhattan hotel, Dow Jones’s general counsel Joe Stern said shareholders holding 60.27% of Dow Jones’s voting stock had approved the sale.
“The margin of approval was higher among shareholders owning common stock than shareholders holding supervoting stock. Roughly 78% of the outstanding common shares voted in favor of the deal while only 54% of the outstanding supervoting shares approved the deal.
“Most of the supervoting stock is held by members of the Bancroft family, which has controlled Dow Jones for more than a century. The family was heavily divided on whether to sell to News Corp.”
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