Kann and his family at her house in Maine to celebrate Mr. Kann's retirement.
Mr Kann is being taken to task by his own managers as well as his shareholders.
Mr Kann has also been under fire for investing more in editorial than in readers.
The merger was welcomed by analysts, who thought it past time for Mr Kann to cut his losses.
"A gentleman in both senses of the word, " former Dow Jones Chief Executive Peter Kann said of Mr. Cox.
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Yet there is one other thing happening in the information business that plays to Mr Kann's strengths: the Internet.
Potential bidders have only a few months to wait and see whether the Saturday edition will protect Mr Kann, or hasten his departure.
What Mr Kann should be blamed for, his critics say, is the company's strategic failure since he took over in 1991 to broaden its mix of assets.
He did so after being advised not to by a lot of big names in publishing, including Playboy founder Hugh Hefner and Dow Jones Chairman Peter Kann.
At the gathering, these people say, Mr. Kann, who had been a long-time champion of Dow Jones's independence, told attendees that given the family's divisions, he could see the arguments for a deal with Mr. Murdoch.
Then in 2005 the Bancrofts got then chief executive Peter Kann and their other board cronies to approve a plan under which the family can sell more than half of its supervoting shares and still control Dow Jones.
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