WSJ editor backs agreement with Murdoch

Stephen Foley of The Independent newspaper in London writes for Wednesday’s paper that the Wall Street Journal‘s managing editor, Marcus Brauchli, has backed the agreement between Dow Jones & Co. and News Corp. that would provide the editorial independence of the paper if it is acquired.

Foley wrote, “The Wall Street Journal’s editor has thrown his weight behind efforts to find an agreement that preserves the newspaper’s editorial independence under the ownership of Rupert Murdoch, potentially taking the sting out of newsroom opposition to the mooted $5bn (2.5bn) takeover.

“Marcus Brauchli, who took over the job of editor earlier this year, said yesterday that he appreciated guidelines ‘reaffirming our principles of journalistic independence’ and thanked ‘the Murdoch family and their colleagues at News Corp for their efforts toward an agreement to preserve those principles’.

“His comments – in a statement also signed by the managing editor of the Journal’s sister company, Dow Jones Newswires – came after the publication of the agreement hammered out last week by Mr Murdoch’s News Corp media empire and the board of Dow Jones, which owns the Journal.”

Read more here. Foley also quotes the union president that represents business journalists at the paper saying that the agreement was not good enough.