Bancrofts End Day One of Murdoch Talks
Earlier today, the lead trustee for Dow Jones promised an announcement about the Bancroft family's deliberations over Rupert Murdoch's buyout offer; it wasn't much of an announcement
Shortly before 8 p.m., Bancroft family lead trustee Michael Elefante emerged through a revolving door, from the back entrance of the Hilton Hotel, in Boston’s financial district. There, he very briefly addressed reporters, waiting outside in the light rain.
“The family had a very productive meeting, and they now have all the information they need to make a good decision about the News Corp. offer,” said Mr. Elefante, who is also a member of the Dow Jones’s board of directors. “Thank you very much.”
And that was it.
Throughout the day, reporters had been camped out at the front and back entrances waiting for any statement—which had been promised earlier in the day by Mr. Elefante to Reuters.
Earlier in the evening, Christopher Bancroft, who has been looking for investors to help him buy out relatives who support a News Corp. deal, emerged, reportedly sporting a cap with the words "Bite Me" printed on it.
"We're still undecided," he told the throng. "Everyone has to decide for himself." He said he was leaving an hour early to get back to Texas.
Dow Jones chairman Peter McPherson was accosted by reporters shortly before Mr. Elefante’s appearance, but declined to comment, hopping in an elevator upstairs.
One participant at the meeting emerged later and said that the family had about a week to decide.
Mr. Elefante, before heading off to the Hilton’s restaurant, told reporters that the family would not be meeting tomorrow. Now, the ball’s officially in the Bancroft’s court.
