July 31, 2007 | posted by Michael Baxter in IABN |

Talking of the Murdochs, while James busily buys Amstrad, the News Corp $5 billion purchase of The Wall Street Journal has hit a hurdle.

You may recall that the Wall Street Journal has a rather peculiar structure - its founding family the, Bancrofts, have this idea of preserving editorial integrity. The firms’ owners are not allowed to influence editorial decisions.

But, Mr Murdoch seems to have convinced the, that under his control, the Wall Street Journal would remain a paragon of editorial integrity - a bit like the Sun then.

But, to do the deal, Mr Murdoch wants as many member of the Bancroft family as possible to be supportive.

But the family is split. Some have argued strongly against the bid - and time is running out - and some reports are suggesting Mr Murdoch is close to giving up.
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