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Continuing Coverage of the Dow Jones Story

Reports from insiders say that the new agreement concerning the makeup and power of a board that would oversee the editorial independence of the company, will allow News Corp. the power to hire and fire top editors of The Wall Street Journal, says a report in the New York Times (NYT).

One interesting comment by these anonymous people is the agreement with the board doesn't even have the teeth the existing agreement of those overseeing The Times of London has.

I think the reason why this is happening is the price itself, which is a statement by Murdoch that if it's accepted it is different than past buys because of the premium price he offered.

By that I mean Murdoch is paying the price because he has a lot of plans for the content included with Dow Jones, and by extension The Wall Street Journal, which I don't think he's going to allow to be interfered with in any truly disruptive way. I think he will walk if access to the company is restricted to the point that it can't be integrated into existing outlets plus the upcoming TV business channel.

For the New York Times, their coverage of this story shows they're starting to get nervous about the deal. It's not because they care about "editorial integrity," but because they know that Murdoch and News Corp. (NWS-A) are going to go after them to challenge their long-standing supremacy as the "voice" of America.

The truth is with Dow Jones, Murdoch would have a legitimate chance to make it happen; something that infuriates the Times, who are losing a lot of advertising and readers.

The New York Times will suffer a lot if this deal goes through. Murdoch announced today that he's going to go after them, something I'll post on later.

Related Coverage:

Dow Jones, News Corp. Come to Editorial Board Agreement

Dow Jones Deal Coming Closer to a Conclusion

Latest Plan by Bancrofts Shows Board may be Just Rubber Stamp for Them

Dow Jones Board Drafting "Editorial Independence" Statement - Will Murdoch Accept?

General Electric and Pearson PLC Drop out of Dow Jones Sweepstakes

Bancrofts Out of the Dow Jones Negotiations - Board Takes Over

General Electric, Pearson PLC Consortium to Buy Dow Jones Already Under Fire

Bancrofts Said to be Readying Proposal for Special Board

Another Dow Jones Suitor Bites the Dust

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