The Bancroft Family has decided to sell. According to numerous reports, family shares representing 32% of the company's overall shares have agreed to vote in favor of News Corp's $5 billion offer. The line for solid approval of the deal was reported to be 30%, giving Rupert Murdoch the comfortable margin he desired. That figure means that about half the family's shares went in favor of the deal.
Caveats: There must still be a full shareholder vote to approve the deal. The majority of non-family shares are expected to vote in favor, although technically nothing is final yet. But in all likelihood, the deal is essentially done at this point.
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