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Bancroft Family, Murdoch to Meet

The Bancroft family, the controlling shareholders in The Wall Street Journal parent Dow Jones, will meet with News Corp. chairman Rupert Murdoch, AP reported.

News Corp. submitted a $5 billion cash bid for Dow Jones May 1, which the Bancrofts initially rejected.

Murdoch has said that he would invest in the Journal and ensure its editorial independence, which the Bancrofts and Dow Jones employees have said is “paramount to the company's mission,” according to AP.

“The mission of Dow Jones may be better accomplished in combination or collaboration with another organization, which may include News Corp.,” the Bancrofts said in a prepared statement.