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Hear All That Laughing Down At The Bank – That’s The Bancrofts
Philip Stone February 25, 2009
News Corp. has enough cash in the bank to pay off its debt for the next seven years, so Rupert Murdoch probably doesn’t dwell too much on how much he paid for Dow Jones, that he has just written down that investment by half --$2.8 billion -- and that hard times have now meant journalistic cuts at his beloved Wall Street Journal and his four UK national newspapers, but the Bancroft family must consider him an absolute savior.
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