Dow Shareholder Duels Murdoch

By Peter Fearon

Posted May 7, 2007 6:51 AM CDT

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Dow Shareholder Duels Murdoch — Co., publisher of The Wall Street Journal, is now firmly in play, even after the controlling Bancroft family turned thumbs down to a $5 billion bid from Rupert Murdoch. (AP Photo/Mark Lennihan, File) (Associated Press)

A powerful shareholder in Dow Jones is opposing Rupert Murdoch's takeover bid, saying the tabloid publisher would destroy the Wall Street Journal's integrity. James Ottaway Jr. said Murdoch "has for a long time expressed his personal, political and business biases through his newspapers and television channels."

Ottaway, whose holdings translate into 5.2% of overall voting power, specifically suggested Murdoch would subvert the Journal's critical China coverage to promote his cozy relationshiop with the Chinese government, as he has done in other outlets. A Murdoch spokesman said the statement is based on "tired misconceptions and clichés."

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