"If I had known what I know now, I would have pushed harder against" the Murdoch bid, said Christopher Bancroft, a member of the family which controlled Dow Jones & Company, publishers of The Wall Street Journal.
The reason, I'm sure, it took Mr. Bancroft four years to regret this 2007 decision is because that's exactly how long it took his family to finish counting the $1.2 billion they made from the sale — which is less than half the write down Murdoch had to take just 14 months after the deal closed.
I believe the saying goes, "You can't go broke taking a profit." If the Bancrofts are really concerned about good journalism, maybe they should start another news organization. I know where they should be able to get $1.2 billion in seed money.
