Is it true that money buys happiness? Apparently, the Bancroft family thinks so. From the Guardian:
It was a sad week, perhaps, for the Bancroft family – that paternal clan of old-time warriors who fought valiantly to maintain the independent integrity of the Wall Street Journal. Or did they?
A less sympathetic observer might suggest that the Bancrofts spent three months indulging in navel-gazing dithering over Rupert Murdoch’s $5.6bn offer for their family media vehicle before indulging in a venal lunge for cash at the flimsiest hint of an extra incentive.
Whatever you think of the Dirty Digger’s politics, you’ve got to hand it to Murdoch – his handling of the Dow Jones battle has shown business brilliance and he has left the Bancrofts looking more dysfunctional than the House of Windsor.