LYCOS RETRIEVER 
Dow Jones
built 115 days ago
[T]he New York Times Co., which like Dow Jones and several other newspaper companies is controlled by a family through a special class of shares, is facing investor unrest over its own sluggish financial performance. Last week shareholders withheld 42 percent of their votes for directors, a public rebuke to the Sulzberger family, which controls the company.
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Prior to joining Dow Jones, Mr. Porch was senior vice president for strategic component product development for Thomson Financial, where he created new and innovative solutions for Thomson One components. Before joining Thomson Financial, he spent eight years at Reuters as senior vice president responsible for global component product development, launching Reuters News Next Generation capabilities and leading innovation teams for charting, time series, fundamentals and other content capabilities.
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Last spring, barely a year after taking the helm at Dow Jones, Zannino had a fateful breakfast with Murdoch that ended with the mogul declaring his intent to launch a takeover attempt. Murdoch's aggressive bid left the controlling Bancroft family splintered and wallowing in recriminations, including some directed at Zannino, whom they suspected of favoring Murdoch's offer. Fearful that Murdoch might use the Journal as a platform to forward his own business and political views, numerous Dow Jones employees and executives tried to lobby the Bancrofts not to sell. But after Murdoch promised to preserve the Journal's editorial independence, the family decided to take the money and run. Now Journal staffers are waiting to see whether Murdoch keeps his promise.
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• The Dow Jones had its best day in more than five years yesterday, moving up 417 points and providing a reprieve for investors who have watched their portfolios dwindle in recent weeks. How did some of the NCAA's corporate partners and champions perform in the rally, you ask?
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In 1900 the stockholders of Dow Jones, members of the Dow and Bergstresser families, and a few company employees received $7,500 each in addition to $1.20 a share in annual dividends. In March 1902 Clarence Barron purchased Dow, Jones & Company--including the news agencies in Boston and New York and the Wall Street Journal--for $130,000. Dow and Bergstresser resigned their directorships. There was no public announcement, only the appearance of names for the first time on the Journal's masthead. Although Barron had bought the company, he listed Dow, Bergstresser, Woodlock, and J.W. Barney, not himself.
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GE still may be in the hunt to snatch Dow Jones from the hands of News Corp., the Wall Street Journal reports. GE’s NBC Universal is said to be in discussions with Pearson PLC to make a joint bid for Dow Jones. The deal would reportedly put CNBC, the Wall Street Journal, Pearson’s Financial Times newspaper and Dow Jones’ other businesses into a new privately-held venture. The Bancroft family would keep a minority stake in the new company. The Wall Street Journal says News Corp. is becoming increasingly frustrated with negotiations: “We’re not going to spend $5 billion and then leave them the keys to the house,” an unnamed News Corp. source said.
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