Richard Perez-Pena of The New York Times writes for Friday’s paper that an editorial oversight committee would have the power to hire and fire top editors at The Wall Street Journal if News Corp. acquires its parent company, Dow Jones & Co.
That’s the opposite of what Perez-Pena reported on Thursday in a story that said News Corp. CEO Rupert Murdoch would have the ability to do the hiring and firing.
Perez-Pena wrote, “Under a tentative accord to guard The Wall Street Journal’s editorial integrity in a takeover by Rupert Murdoch, an independent committee would have the power to approve or reject the hiring and firing of top editors, several people briefed on the deal said yesterday — contradicting what another person close to the talks has said.
“Mr. Murdoch’s News Corporation would make the choices, but they could be blocked by the committee, according to these people, who insisted on anonymity because they were not authorized to discuss the matter. Before a deal closes, News Corporation and Dow Jones & Company, owner of The Journal, would jointly select the five founding members of the committee, which would choose people to fill future committee vacancies.
“Though an agreement has been reached on editorial independence, News Corporation and Dow Jones are still negotiating other aspects of Mr. Murdoch’s offer, including the proposed $5 billion price.”
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