Bancroft family may sell Dow-Jones

New York -- The Bancroft family, owners of Dow Jones & Co., said Thursday that the company, one of the major forces in U.S. journalism, may be up for sale.

In a statement, the family said News Corp., owned by Australian Rupert Murdoch, might be a potential buyer, The New York Times reported. That would give Murdoch ownership of The Wall Street Journal, one of the few truly national papers in the United States.

The family turned down Murdoch's $5 billion offer for the Journal a few weeks ago.

Sources close to the Bancroft family told the Times that any potential buyer, including Murdoch, would have to come up with a better offer. The Bancrofts also said they would only consider bidders who could guarantee the Journal's editorial independence.

The Bancrofts, unlike the Sulzbergers at the Times or the Newhouses, have not played an active part in management at Dow-Jones.

Copyright 2007 by United Press International.