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Murdoch Willing on DJ Concessions, But Not Too Much; Reuters Trustees-Type Structure Possible

Rupert Murdoch is willing to make concessions in his talks with Bancrofts on his bid for Dow Jones, but has limits, he said in an interview with WSJ. Murdoch and his second-oldest son, James Murdoch, the CEO of News Corp. affiliate BSkyB, will meet Monday with three members of the Bancroft family. He said he would not yield to what may likely to be a key demand of Bancrofts: that the family control any editorial-oversight board created to protect Dow Jones’s editorial independence in the event of a deal. “I can’t put down $5 billion of my shareholders’ money and not be able to run the business,” Murdoch said, but stressing that he has “no plans to change anything” on the editorial or news sides of the paper.

News Corp. would be willing to explore a structure similar to that historically used by Reuters, according to the story, citing sources. This arrangement gave the Reuters trustees veto power over any deal, which also remain in the new Thomson-Reuters company.