Of course we shouldn't be surprised that Murdoch finally got his way. The Bancroft family may have been passionate about defending their respected legacy against the man behind the Sun and Fox News, but such sentiment is no match for an arch deal-maker like Murdoch. Especially when he has been after the prize for 10 years. Indeed, the Bancrofts never really stood a chance. Describing their management of Dow Jones, Warren Buffett claimed 'they blew it', adding that the company they sold for $5bn could have been worth $50bn if they'd known what they were doing.
One stipulation of the deal is a series of editorial safeguards, designed to protect Dow Jones' integrity from Murdoch's famously aggressive and hands-on management style. We can't imagine that holding up. You may remember when Murdoch bought Times Newspapers in 1981, with a similar guarantee to independence. The Times' editor left soon after, apparently the result of the old man's interference.
All of which is now academic - Murdoch holds the reins. Which is bad news perhaps for the FT. Murdoch may soon be coming after it, guns blazing.