Murdoch May Have Dow Jones

British mag reports talks are over; Journal publisher denies
By Greg Atwan,  Newser Staff
Posted Jul 6, 2007 12:13 PM CDT
Murdoch May Have Dow Jones
Co. have accelerated and the two sides appear closer to reaching an agreement on protecting the editorial independence of The Wall Street Journal, according to news reports Monday, June 25, 2007. (AP Photo/Peter Morgan, file)   (Associated Press)

(Newser) – Rupert Murdoch has succeeded in his bid to take over Dow Jones, according to a report in a British financial magazine. The Wall Street Journal publisher is denying the report, although The Business cites inside sources who say the $5 billion deal will be formally announced next week.

The buy would include a legally enforceable agreement of the Journal's editorial independence, a major sticking point for the majority-owning Bancroft family: According to the report, a five-member panel would have veto power over Murdoch's hiring and firing of top editorial staff. A spokesman for Dow Jones says only the independence scheme has been finalized. (Read more Rupert Murdoch stories.)

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