Shares of Dow Jones & Co. jumped last week after the Bancroft family, which holds a controlling interest in the media company, said it will meet with Rupert Murdoch’s News Corp. — and any others interested — about a possible sale, MarketWatch reports.
In an apparent reversal of the family’s previous stance, the Bancrofts released a statement late Thursday citing the “evolving competitive environment” for the company in saying it would meet with Murdoch at an unspecified date.
Dow Jones is the parent of the Wall Street Journal and MarketWatch, the publisher of this report, among other properties.
Shares were up more than 15 percent at one point, hitting a more than six-year high of $61.49 in Friday morning trading. Shares stood at $61.20 at the close, up 7.9 percent. News Corp. shares ended the session up 59 cents, or 2.5 percent to $24.22.