WSJ Bancrofts in Boston Debating How Rich To Be


Now it’s in the family’s hands.  According to the New York Times, several generations of Bancrofts are holed up in a conference room at the Boston Hilton listening to platoon of advisors lay out their options:

Option 1: Take Murdoch’s $60 a share, pocket the amazing windfall the offer has produced out of thin air, and pray that Murdoch doesn’t transform the Journal into a smut-rag while anyone still remembers that you sold it to him (approx. 17 minutes).

Option 2: Continue to tell yourselves that you are “stewards of a public trust” instead of “inheritors of some stock in a struggling business,” reject offer, watch stock plummet, and somehow survive on $2 million a year.

Vote reportedly too close to call…   Richard Perez-Pena, New York Times

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