Los Angeles Times media critic Tim Rutten writes Saturday that the four-page Bancroft proposal to ensure the editorial integrity of The Wall Street Journal should the family decide to sell parent Dow Jones & Co. to News Corp. CEO Rupert Murdoch is an amazing document because the family wants Murdoch’s money, but they don’t want to give up the paper’s integrity.
“In that case, whatever you do, you’re bound to come off a bit like Faust — ‘Naw, don’t worry, I can handle the devil.’ Who can forget that this is the guy who stood next to Dorothy Schiff and promised that the editorial page of the New York Post would remain an organ of liberal opinion?
“The lawyers’ proposal would have charged a ‘Special Committee’ with ‘preserving and promoting’ the principles enumerated above. That committee would loom rather large in the Journal’s governance. It would be drawn from a new 12-member Dow Jones board of directors, seven of whose members would be named by Murdoch, two of whom would be chosen by the Bancrofts and three of whom would be ‘individuals who are independent and are recognized for their expertise in journalism or other relevant expertise.’ These so-called independents would be selected jointly by Murdoch and the Bancrofts.”
Read more here.
Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…
Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…
In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…
Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…
Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…
Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…