Dow Jones shareholders OK merger; News Corp. completes acquisition

By Lisa Kerner

Charlotte, N.C., Dec. 13 - Dow Jones & Co. stockholders approved the company's merger agreement with News Corp. at a special meeting on Thursday.

News Corp. completed its acquisition of the company shortly thereafter.

Dow Jones said shares representing 60.3% of the outstanding voting power of the company were cast in favor of the merger. Some 77.6% of the outstanding shares of common stock and 54.1% of the outstanding shares of class B common stock were voted in favor of the deal.

Of the shares that were voted, 94.7% of the common stock and 77.7% of the class B common stock were voted in favor of the merger.

Dow Jones stockholders could elect to receive 2.8681 class B common units of Ruby Newco LLC, a News Corporation subsidiary, or $60 cash per share.

Upon the merger's close, Dow Jones became a wholly owned subsidiary of Ruby Newco and Natalie Bancroft was appointed to News Corp.'s board of directors.

The companies announced the deal on Aug. 1. It was previously reported that the transaction was valued at some $5.6 billion.

Dow Jones is a provider of business news and information services based in New York.

News Corp. is a New York-based vertically integrated media company.

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