NWS-DJ Watch: Editorial Board Proposal; Shares Sold; Murdoch Advisor

In today’s installment, the Bancrofts and News Corp. still are looking for a way to make the concept of an editorial work for their different needs: News Corp. need to show it’s in control, the Bancrofts’ need to feel like they didn’t jettison editorial responsibility for a profit. WSJ: The Bancrofts are delivering a revised proposal, possibly by Tuesday, but it may not be enough. “‘This is not a done deal,’ said one family member who asked not to be identified.” Talks for a deal are contingent on resolving the editorial safeguards.

— Fidelity Management & Research has sold most of its 7 percent holding in DJ. NYT: Fidelity was the third-largest DJ shareholder with 4.7 million shares at the end of March; it has about 117,000 left.

Murdoch’s man in London: WSJ also has a profile of Robert Thomson, editor of the Times of London and a Murdoch advisor: “Mr. Thomson’s recommendations include: investing more money in Dow Jones’s online assets, which include WSJ.com and MarketWatch.com; and considering charging different prices for access to the company’s Web sites, depending on the amount of information readers want, according to a person familiar with his thinking.”