MEDIA BARON RUPERT MURDOCH’S unsolicited $5 billion bid to acquire the publisher of the Wall Street Journal has directed a spotlight on founding families who have an outsized say in how their companies are managed.
Dow Jones & Co., which publishes the Wall Street Journal and Barron’s, is controlled by members of the Bancroft family through a special class of stock. Although the Bancrofts own a minority position in the financial value of Dow Jones, they control a majority of Dow Jones’s voting rights through a stock class that’s not available to the public.
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