Reuters is reporting that Dow Jones & Co., the parent of The Wall Street Journal, and News Corp. have reached an agreement for editorial safeguards preventing News Corp. executives from meddling in the Journal’s journalism content.
The agreement should pave the way for News Corp. to now negotiate a deal to acquire the parent company of The Journal, Barron’s, Marketwatch and Dow Jones Newswires.
Reuters reported, “News Corp. and Dow Jones & Co. Inc. have ‘basically agreed’ to a structure to protect the editorial independence of the company’s news operations, including the Wall Street Journal and the Dow Jones Newswires, a source familiar with the matter said on Tuesday.
“The source said Dow Jones’ controlling family, the Bancrofts, would be consulted on the agreement, which was reached late Monday evening.
“A separate source close to the situation said an agreement was close but there were still several open items left to be discussed, but did not elaborate.”
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