News Corp is considering adding ayoung opera singer who hails from the wealthy family that has long controlledDow Jones & Co. to its board, but business experts tell Reuters she maylack the financial acumen.
Corporate governance expertsquestion whether a member of the family that is selling its stake in Dow Jonesto News Corp. belongs on the media conglomerate’s board at all.
“A board seat isn’t somethingto be given away,” said Charles Elson, director of the
News Corp. confirmed on Wednesdaythat it is considering adding Natalie Bancroft, a 27-year-old who lives in
The Bancroft family missed adeadline to nominate a candidate, giving the ultimate choice to Chairman andChief Executive Rupert Murdoch, according to a report Wednesday The Wall Street Journal, which Dow Jonesowns.
News Corp struck a $5.6 billiondeal to buy Dow Jones this summer after months of negotiations with theBancrofts.
If appointed, Natalie Bancroftwould be the lone woman on the board, which includes former Spanish PresidentJose Maria Aznar and venture capitalist Thomas Perkins.