Forward Into Battle

With The Wall Street Journal and a new business network, Rupert Murdoch and Fox News chief Roger Ailes plan their next move: all-out war.

By Johnnie L. Roberts
Newsweek

Aug. 13, 2007 issue - Rupert Murdoch, owner-in-waiting of The Wall Street Journal, is taking the high road. After a bitter three-month battle to win approval from enough bickering Bancrofts to buy their Dow Jones & Co., the mogul struck a gracious tone with the family, whose century of control he was now bringing to an end. "Given the Bancrofts' long and distinguished history as custodians of Dow Jones, we appreciate how difficult this decision was for some family members," Murdoch said in a statement issued in the wee hours of Wednesday morning, after receiving enough votes from family members to ensure his $5.6 billion purchase of the company. "I want to offer the Bancrofts my thanks, and an assurance that our company and my family will be equally strong custodians." With that, the great battle for Dow Jones came to a close.