Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 6:50:17 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Murdoch Says He's Flexible, Up to a Point

Posted Jun 4, 07 8:29 AM CDT in Business 

(Newser) – Rupert Murdoch has renewed his vow to maintain the Wall Street Journal's editorial independence should his bid for Dow Jones succeed, but it's unlikely he'll allow the controlling Bancroft family to run an editorial oversight board. That sticking point could be a deal-breaker, the Journal reported hours before today's scheduled meeting between the parties.

"I can't put down $5 billion of my shareholders' money and not be able to run the business," said Murdoch, who will join his son James in meeting with three Bancroft family members. The board Murdoch created after buying the Times of London in 1981 has drawn fire for not reining him in; other arrangements and restrictions are under consideration.

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Murdoch Names Thomson New Journal Editor

    May 21, 08 4:00 AM CDT
    Rupert Murdoch has named Wall Street Journal publisher Robert J. Thomson as its top editor, reports the New York Times. Thomson, whom Murdoch made publisher just five months ago, was previously the top editor of Murdoch's Times of London. His appointment is expected to speed the pace of change at the paper, in the wake of the resignation of former managing editor Marcus Brauchli, who was forced out last month. More »

  • Journal Staff Uneasy as Murdoch Era Rolls On

    May 9, 08 10:59 AM CDT
    Journal Staff Uneasy as Murdoch Era Rolls On Tensions are running high in the Wall Street Journal’s newsroom, the New Republic reports, as staffers wonder just where this Murdoch thing is going. Managing editor Marcus Brauchli’s resignation still hangs heavy in the air. Murdoch pushed Brauchli to resign, and paid him millions to sign a non-disclosure agreement. “We're a business newspaper, so we know a sell-out when we see one,” one angry staffer said. More »

  • Cut the Charade: Let Rupert Have His Way With Journal

    May 1, 08 11:32 AM CDT
    Let’s stop kidding ourselves, Jack Shafer writes in Slate: Rupert Murdoch is seizing control of the Wall Street Journal, and we might as well be done with the “Special Committee” that was supposed to protect editorial independence. The Bancroft family insisted on the creation of the board, which then proved itself  "a set of high-paid flunkies" who sat on their hands as the paper’s top editor was forced out. More »

  • WSJ Oversight Panel Slams Editor's Ouster

    Apr 29, 08 5:53 PM CDT
    WSJ Oversight Panel Slams Editor's Ouster A committee formed to protect the editorial independence of the Wall Street Journal from Rupert Murdoch’s influence said today the solicited resignation of managing editor Macrus Brauchli violated an agreement with Murdoch's News Corporation, Reuters reports. The committee is supposed to review all high-level hirings and firings, but, as Brauchli opted to resign, it learned of his ouster only after the fact. More »

  • Exiting Journal Editor Was Stuck Between Rupe and 'DNA'

    Apr 23, 08 2:07 PM CDT
    Exiting Journal Editor Was Stuck Between Rupe and 'DNA' Continuing to report on the aftershocks of its own takeover, the Wall Street Journal does a postmortem on the departure of top editor Marcus Brauchli, detailing his uncomfortable position between a demanding new owner and the paper's institutional “DNA.” Rupert Murdoch wanted to build a direct competitor to the New York Times, with more general news and shorter stories, and felt the managing editor was holding up the overhaul. More »

Co., publisher of The Wall Street Journal, is now firmly in play, even after the controlling Bancroft family turned thumbs down to a $5 billion bid from Rupert Murdoch. (AP Photo/Mel Evans, file)   (Associated Press)
Co., the Bancroft family, promising them a board seat on his media conglomerate, News Corp., as well as measures to ensure the independence of The Wall Street Journal. (AP Photo/Mark Lennihan, FILE)   (Associated Press)
Co. publisher of the Wall Street Journal has received an unsolicited bid for the company from Rupert Murdoch, who is the major stake-holder of News International, the parent company of The Time and The...   (Associated Press)
Co. has been rebuffed by the Bancroft family, which has controlling interest. Murdoch's News Corp. publishes the Post, while The Wall Street Journal is published by Dow Jones. (AP Photo/Mark Lennihan)   (Associated Press)
Co. has been rebuffed by the Bancroft family, which has controlling interest. Murdoch's News Corp. publishes the Post, while The Wall Street Journal is published by Dow Jones. (AP Photo/Mark Lennihan)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 4)

Tags

Dow Jones  • business  • Rupert Murdoch  • News Corp  • acquisitions  • Wall Street Journal  • merger  • Bancroft family


Loading...

Loading...

Today's Most Popular


Other Home Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »