Ottaways Deplore Bid by Murdoch for Wall St. Journal
By RICHARD PÉREZ-PEÑA
New York Times
Two members of the Ottaway family, a minority partner in Dow Jones & Company, released scathing statements yesterday saying that a takeover by Rupert Murdoch’s News Corporation would ruin Dow Jones and its crown jewel, The Wall Street Journal.
The controlling Bancroft family said last week that family members representing 52 percent of shareholder votes opposed Mr. Murdoch’s $60-a-share bid, a steep premium for a stock that had recently traded around $36. But their statement was vague, leaving it unclear whether family members objected to the price, to Mr. Murdoch or to a sale on any terms.
The Ottaways’ statements left no such ambiguity, questioning the journalism and the ethics of Mr. Murdoch and of News Corporation properties like the Fox News Channel and The New York Post, known for their right-wing political bent and racy tone.
James H. Ottaway Jr., a trustee for most of the family shares and formerly a longtime Dow Jones executive and board member, said, “Dow Jones has no good reason to be sold to anyone.” And the reputation of The Journal and Dow Jones for serious, accurate and objective work, he said, “would be damaged if Rupert Murdoch and his News Corporation take over Dow Jones,” he said.
“He has for a long time expressed his personal, political and business biases through his newspapers and television channels,” Mr. Ottaway said. The Post “regularly runs biased news stories and headlines supporting his friends, political candidates and public policies, and attacks people he personally opposes,” while at Fox News, “one man’s political opinions have become the editorial and news policy.”
(Continued here.)
New York Times
Two members of the Ottaway family, a minority partner in Dow Jones & Company, released scathing statements yesterday saying that a takeover by Rupert Murdoch’s News Corporation would ruin Dow Jones and its crown jewel, The Wall Street Journal.
The controlling Bancroft family said last week that family members representing 52 percent of shareholder votes opposed Mr. Murdoch’s $60-a-share bid, a steep premium for a stock that had recently traded around $36. But their statement was vague, leaving it unclear whether family members objected to the price, to Mr. Murdoch or to a sale on any terms.
The Ottaways’ statements left no such ambiguity, questioning the journalism and the ethics of Mr. Murdoch and of News Corporation properties like the Fox News Channel and The New York Post, known for their right-wing political bent and racy tone.
James H. Ottaway Jr., a trustee for most of the family shares and formerly a longtime Dow Jones executive and board member, said, “Dow Jones has no good reason to be sold to anyone.” And the reputation of The Journal and Dow Jones for serious, accurate and objective work, he said, “would be damaged if Rupert Murdoch and his News Corporation take over Dow Jones,” he said.
“He has for a long time expressed his personal, political and business biases through his newspapers and television channels,” Mr. Ottaway said. The Post “regularly runs biased news stories and headlines supporting his friends, political candidates and public policies, and attacks people he personally opposes,” while at Fox News, “one man’s political opinions have become the editorial and news policy.”
(Continued here.)
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