Blog Post

Murdoch Reject Bancrofts’ Independent Board Idea; Employees Union Considering Other Options

imageUpdated below: Rupert Murdoch had a “constructive” meeting with the Bancrofts today on the future of Dow Jones, reports Reuters…this to the swarm of reporters descended on the meeting building. Meanwhile, the union representing over 2,000 Dow Jones workers, the Independent Association of Publishers’ Employees, said it has retained advisers to seek alternative bids that could better protect the publication’s “unquestioned journalistic integrity.” The process was started last Friday, it said, with a list of about half a dozen individuals with “the money and the integrity”…more details were not released.
Updated: WSJ: The two sides convened yesterday for more than four hours to discuss issues of journalistic independence for DJ and WSJ. The two sides exchanged proposals on structures to maintain journalistic integrity, but price wasn’t discussed…there isn’t another date set for a meeting, the story says.
NYTimes: The Bancrofts told him they would sell him the company only if they could keep its jewel, The Wall Street Journal, out of his editorial control. Murdoch made clear that he would not accept the Bancroft family’s proposal, which would give a board of independent overseers the power to hire and fire top editors, but various adjustments and alternative plans were floated in a meeting that lasted almost five hours, the story says.

Bancrofts’ proposal, that the board