By giving its executives severance packages in case the company is sold, Dow Jones & Co. has shown that it will act just like any other company would, which hurts the argument that the editorial integrity of its Wall Street Journal newspaper must be maintained, writes Bloomberg News columnist David Pauly.
“On June 4, about a month after Murdoch’s offer, the publisher voted to heap money on executives if they get fired in the event of a takeover. These change-of-control provisions are common though indefensible. They simply reward executives for doing their job.
“Dow Jones hasn’t needed such a device because until now the Bancroft family that controls 64 percent of the company’s vote has said the enterprise wasn’t for sale.”
Now, of course, News Corp. CEO Rupert Murdoch has made a $5 billion offer for the company, which the Bancrofts are considering.
Read more here.
Bloomberg Law has hired Olivia Alafriz to cover insurance litigation and regulation. She is on the corporate…
Bloomberg Law has hired Lauren Clason to cover health benefits. She has been a health care reporter…
New York Times business editor Ellen Pollock sent out the following: I’m excited to announce: Mohammed Hadi…
Hannah Dreier, an investigative reporter at The New York Times, won a Pulitzer Prize for investigative reporting…
The Washington Business Journal has hired Ben Peters to cover commercial real estate. He has been the…
Bloomberg Radio has a rare opportunity for a motivated, hardworking Producer to contribute to it's…