Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Sunday, May 6, 2007

Ottaway Family Opposes Murdoch Bid for WSJ

Jim Ottaway, Jr., and his son, Jay Ottaway (the Ottaway family is the other large family group owning Dow Jones stock -- approximately 6.2% of the supervoting Class B stock) issued statements fiercely opposing Murdoch's acquisition of the Wall St. Journal.  Jim Ottaway stated:

"The sale of Dow Jones to Rupert Murdoch and his News Corp. global media giant would lead to loss of the unique news quality and integrity of The Wall Street Journal and other Dow Jones publications and Internet services, and loss of the independence and integrity of a leading national editorial voice."

He also said that to Murdoch the WSJ is the equivalent of a "trophy wife."  See Major Dow Jones Shareholder Opposes Bid From News Corp.

http://lawprofessors.typepad.com/securities/2007/05/ottaway_family_.html

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