Dow director quits the board

A director on the board of Dow Jones & Co has resigned because he could not support its endorsement of a US$5 billion ($6.4 billion) takeover offer from Rupert Murdoch's News Corp.

Dieter von Holtzbrinck said yesterday that Murdoch's US$60-per-share offer was "very generous in financial terms" but he was concerned that Dow Jones' journalistic values would "strongly suffer".

The fate of the deal is now in the hands of controlling shareholders the Bancroft family.