NEW YORK (Reuters) - Leslie Hill has resigned from the board of Dow Jones & Co. Inc. after an unsuccessful effort to prevent its $5.6 billion sale to Rupert Murdoch’s News Corp.
Hill’s letter of resignation, dated July 31, was submitted on Wednesday in a filing with the U.S. Securities and Exchange Commission.
Dow Jones signed a definitive merger agreement with News Corp. after Dow Jones’ controlling Bancroft family agreed to use more than one-half of their voting shares to support the deal.
Hill, a member of the family, had sought other buyers to counter News Corp.’s bid.
“Regrettably, my inability to any longer protect what this brand has stood for means I herewith resign from the Board of Dow Jones,” Hill said in her letter.