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Thursday, July 14, 2011

DEAL: Bancroft Family Regrets Selling Wall Street Journal to Murdoch!

Members of the family that sold the Wall Street Journal to Rupert Murdoch have a whole new kind of seller's remorse. Some in the Bancroft family tell Pro Publica they never would have agreed to sell the newspaper to Murdoch in 2007 if they knew the scope of News International's phone-hacking scandal. "If I had known what I know now, I would have pushed harder against [Murdoch's bid]," says Christopher Bancroft. The allegations "would have been more problematic for me.

I probably would have held out." Another family member makes it a little more personal. Murdoch "thinks he is completely above the law as he always has," he says. "We did a deal with the devil.

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