Concluding a $5-billion sale in which issues of integrity and independence figured as prominently as price, the boards of directors of News Corp and Dow Jones have approved a deal that will transfer to Rupert Murdoch control of the world's most respected business daily, the Wall Street Journal. Sealing the deal Tuesday night ended three months of high drama as members of the Bancroft family, the owners of Dow Jones, debated among themselves whether to allow the Journal's legacy to be jeopardized by Murdoch, who is known for bending the editorial policies of his newspapers to advance his own conservative politics. In a statement following the boards' action, Murdoch said, I want to offer the Bancrofts my thanks, and an assurance that our company and my family will be equally strong custodians."




01/08/2007