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Continuing Coverage of the Dow Jones Story

With the passing of Dow Jones & Co. (DJ) from the family Bancroft to the family Murdoch, I was waiting to see what the response of the Wall Street Journal would be after the deal. As of now, it's been pretty positive and shows a desire of editors there to work with their new owner (although official shareholder approval is still waiting).

Referring to the independent committee set up to protect editorial independence, the Journal editorial board said, "This isn't intended to be some heat shield protecting Journal editors from their new owner. We know enough about capitalism to know that there is no separating ownership and control."

Alongside this piece by the editorial board, journal publisher Gordon Crovitz wrote: "As owner, Mr. Murdoch will be fully accountable for the company. This is a strong protection for readers because it's the reputation of our journalism that drives so much of the value of Dow Jones."

Contrary to all the comments throughout the months of negotiations, many of those in the Dow Jones company are excited about Murdoch and News Corp. (NWS-A) taking over the business. For the first time in years they have someone that cares about the properties and will offer an exciting vision to those working there.

When do you think the last time was the Wall Street Journal people felt they could take on the New York Times (NYT) and the Financial Times and win? They also have the upcoming cable business channel that offers up unknown possibilities for the content of the Wall Street Journal and other Dow Jones properties.

Don't think that those that understand business at the company aren't excited. They are! I would be too.

Going from a company with basically no leadership to one with great leadership and a commitment to make the property even better will be a great motivator. It doesn't hurt that Murdoch is will to put a lot of money into it as well.

The deal should close sometime in the fourth quarter.

Related Coverage:

Rupert Murdoch Says He's About Ready to Walk Away from Dow Jones Deal

Bancrofts in Denver Trust Want More Money: Ready to Vote Against Murdoch if Price not Raised

Brad Greenspan Makes Yet Another Proposal to Dow Jones

Al Neuharth, USA Today founder: The Wall Street Journal Sale - A "Farce Starring WSJ Reporters, Columnists, Editors and Executives"

Bancrofts Meeting Monday to Discuss Selling Dow Jones Co.

Dow Jones Negotiations Winding Down: Tentative Agreement to be Presented to Bancroft Family

Final Stages of Dow Jones Negotiations May Start this Week - Companies to Meet

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