Dow Jones proxy count shows buyout approved: report
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Wed, 12 Dec 2007 18:47:03 GMT |
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NEW YORK (Reuters) - Dow Jones & Co shareholders holding more than 50 percent of the voting power of the company approved its $5.6 billion sale to Rupert Murdoch's News Corp , the Wall Street Journal Web site said on Wednesday.A count of the proxy votes ahead of a Thursday shareholder meeting showed shareholders owning more than half of the company's voting power threw their support behind the deal, the Journal reported, citing unnamed sources.Dow Jones's board approved the deal in July after members of its controlling family, the Bancrofts, said they would support the sale.Ahead of the deal's closing, Murdoch appointed News Corp veteran Les Hinton as Dow Jones chief executive and named Times of London editor Robert Thomson as the publisher of the Wall Street Journal.News Corp declined comment. A representative of Dow Jones was not immediately reachable.(Reporting by Kenneth Li, editing by Phil Berlowitz)
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