Dow Jones Board OKs Deal With Murdoch

Murdoch's conquest of America marches on:

The fate of Dow Jones & Co. now rests with the Bancroft family, the company's longtime controlling shareholders, who must decide whether to sell the publisher of The Wall Street Journal to Rupert Murdoch's News Corp., a global media conglomerate that owns Twentieth Century Fox and the Fox News Channel.

The board of Dow Jones said late Tuesday it was ready to sign off on Murdoch's proposal to buy the company for $5 billion. However, the key remains with the Bancroft family, whose three dozen members have been deeply divided over whether to sell to Murdoch. The are expected to meet Monday to discuss the deal.