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Dow Jones Director Quits in Protest over Murdoch Bid

Magazine article Editor & Publisher

Dow Jones Director Quits in Protest over Murdoch Bid

Article excerpt

Dow Jones Director Dieter Von Holtzbrinck has resigned from the board in protest of Rupert Murdoch's bid to buy the company, a U.S. Securities and Exchange Commission filing revealed today.

Von Holtzbrinck wrote that he could not recommend that the company sell to Murdoch, though the board voted to do so on Tuesday. He did not vote on the proposal to sell the company.

"Although I'm convinced that News Corp.'s offer is very generous in financial terms, I'm very worried that Dow Jones unique journalistic values will long-term strongly suffer after the proposed sale," he wrote.

Von Holtzbrinck has been a director on the board since 2001 and he is an heir to the von Holtzbrinck publishing empire, reported The Wall Street Journal.

A full copy of the letter follows:

***

TO: DOW JONES DIRECTORS

FROM: DIETER VON HOLTZBRINCK

Stuttgart, July 19, 2007

Dear all,

sorry, that I couldn't support the recommendation which got Board approval. …

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