Report: Murdoch, Dow Jones 'Basically Agree' On Editorial Independence Deal
June 26, 2007 at 10:48 AM (PT)
REUTERS is reporting that "a source familiar with the matter" says that RUPERT MURDOCH's NEWS CORP. and DOW JONES AND CO. have "basically agreed" to an editorial independence policy for the WALL STREET JOURNAL should MURDOCH succeed in buying the company. The source tells REUTERS that DOW JONES' controlling shareholders, the BANCROFT family, will be consulted on the agreement. Another source tells the wire service that an agreement was "close" but not complete.
MURDOCH has offered $5 billion for DOW JONES, which owns the JOURNAL, BARRON'S, and the WALL STREET JOURNAL RADIO NETWORK.