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Continuing Coverage of the Dow Jones Story 

The five members of the committee created to guard the integrity of The Wall Street Journal (DJ) have been named.

The five people agreeing to sit on the committee are former U.S. Rep.Jennifer Dunn; Nicholas Negroponte, who used to chair the Massachusetts Institute of Technology Lab; Thomas Bray, a former reporter for the Journal; Louis D. Boccardi, former CEO of The Associated Press; and Jack Fuller, past president of the Tribune Co.'s publishing group.

This is in response to the demands the Bancroft family made in order for News Corp. (NWS-A) to acquire Dow Jones.

Part of the power of the committee includes the right to intervene if they feel there's overt bias, lack of fairness or inaccuracy. They also have the power to approve of appointments or firings of the managing editor of the Journal and editorial page editor, along with the managing editor of the Dow Jones Newswires.

Thomas Bray made the comment about Murdoch making changes at the Journal saying, "They are all adults, and I would expect them to work things out."

The implication seems to mean they aren't interested in or there for day-to-day operations, but in matters of significance that could come up.

For example, Boccardi served on a panel that investigated New York Times (NYT) policies of plagiarism by Jayson Blair, and also the Dan Rather scandal about the report on the National Guard Service of President Bush.

It think it gives a hint of what they feel there role is as an oversight panel, not an operations panel that watches the interferes with the company. That would make them perform what some feared Murdoch may do.

Bray concluded saying he hoped they would end up doing ""as little as possible."

Most people believe it's a formidable panel, but there power is ultimately limited to crucial circumstances, not the small things.

Related Coverage:

Whiny John Edwards Pouts about News Corp./Dow Jones Deal

News Corp. Acquisition of Dow Jones Already Changing the Rules

Murdoch and Ailes and Giuliani Oh My: New York Times Panicking at Dow Jones Acquisition

Foes of Dow Jones' Deal bring up Antitrust as an Issue

Wall Street Journal Editorial Pages Support Rupert Murdoch

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

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