Biz people: Ottaway against Murdoch's bid

Jim Ottaway Jr, whose family is one of Dow Jones & Co Inc's largest shareholders, opposes News Corp's $5 billion buyout bid, fearing it would cost The Wall Street Journal its editorial integrity.

Ottaway said in a statement published on The Wall Street Journal's website that a sale to Rupert Murdoch's News Corp would damage Dow Jones' reputation for accurate, fair, objective and reliable business news reporting.

"Murdoch promises editorial independence and no interference in news judgments if he were owner of Dow Jones," Ottaway wrote. "He has made these easy promises of an eager buyer in the past, but not always kept them."

Ottaway's opposition picked up support from another former Dow Jones executive, Peter Kann. Kann told Reuters by telephone that he endorsed Ottaway's position, but did not elaborate.

(China Daily 05/08/2007 page16)