Members whose voting power amounts to 52% rejected Murdoch's $5 billion offer for Dow Jones. But then Murdoch doesn't give up that easily. The saga continues, as they say. Here's the latest:

Keep in mind an earlier piece in the Morning Call, in which we discussed Bloomberg's discovery that Murdoch's current bid for Dow Jones values the company higher than Google, Inc. Murdoch's current bid, $60/share, represents about 40 times Dow Jones' projected earnings. Google, on the other hand, trades at 32 times its projected earnings.

Still, there's no word on whether Dow Jones will accept the offer (and they've turned down Murdoch's offers in the past). This has led many to wonder if Murdoch will up the ante.

But so far, he's only sweetened the deal in monetary ways. At one point, after News Corp (Murdoch's company) announced its numbers, Murdoch paid compliments to the Bancroft family (who control Dow Jones), praising them for their integrity and acumen.

Yesterday, Murdoch offered them a seat on the News Corp board, provided they accept the $5 billion bid. But is this really the kind of sugar that can make the deal markedly sweeter? That remains to be seen, but as Charles Wrubel, a managing partner at AdMedia Partners, an investment banking group, said of the seat offer, "It's a carrot, though not a large-size carrot."

Rupert Murdoch, seeking to woo Dow Jones & Co.'s controlling Bancroft family, offered members a seat on News Corp.'s board if they accept his $5 billion takeover offer.

In a letter to the family dated May 11, Murdoch also said he would invest more money in the Wall Street Journal and establish an autonomous editorial board for the newspaper. The family is meeting today to consider the offer, CNBC reported.

(Continue reading this story on Bloomberg)

Next article » It Looked Good On Paper

Previous article « Citigroup To Acquire Bisys