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Posts Tagged “

bancrofts

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postgame analysis

The Bancrofts Were Totally Outgunned

The Observer takes another look at the Murdoch takeover today, and argues that the Bancrofts were kinda misled by their advisers about the takeover deal. Why? Well, it has to do with James Ottaway Jr.'s rather unfortunate choice of words ("30 shekels of silver to their investment bankers, and 30 shekels of gold to their corporate lawyers") about how much money the Bancrofts had to shell out to their outside advisers to get the deal done. $30 million! And all of it was paid by... News Corp.? The most obvious problem being: say that Rupert was reportedly working on this deal for two years. The Bancrofts were working on it for, what, two months? Yeah.

Did Rupert 'Buy Off' Bancroft Advisors? [NYO]

12:00 PM on Thu Aug 2 2007
By Doree Shafrir
589 views, 23 comments

Latest by Clarence Rosario: @Choire: Wait, shit, I just thought of something. "Jury duty" isn't code for "Promises", is it? more »

"The family that controls Dow Jones & Company has rejected a proposed plan prepared by its lawyers, asking them instead to seek stronger guarantees of editorial independence as a condition of selling the company to Rupert Murdoch's News Corporation." [NYT]

1 comment

genealogy of moguls

As the 'Journal' Turns: Meet the Bancrofts!

Intrigue! Betrayal! Sex (sort of)! With Rupert Murdoch's hostile takeover attempt momentarily stalled, the Weekend Wall Street Journal turns the mirror on the sprawling clan that pays the bills and fields the buyout offers. Four reporters and 3,000 words later, it turns out the Bancrofts are just like your family, except with a few more horses and sailboats. And maybe their smelly old people tell better stories:
Short and ribald, Mrs. Cox enjoyed surprising friends and family with brash comments. One visitor to the Oaks recalls her telling a story about traveling across the Atlantic as a young girl and playing mah-jongg with Franklin D. Roosevelt, the New York governor and later U.S. president. She told of catching FDR cheating and calling him on it.
So, "mah-jongg" is what they called it then? After the jump, an introductory viewer's guide to the wondrous world of the Bancrofts, with illustrations! More »

4:46 PM on Sun May 13 2007
By jliu
1,730 views, 2 comments

Latest by scareah: The house definitely still exists (49 Margin St), known as the Cox Estate. But the people who live there now are much more entertaining than the Bancrofts ever were. A few years ago the wife gave up the life of more »