Report: Dow Jones Deal Aims to Shield Editors

A reported pact between Dow Jones and News Corp. will create a committee to oversee editors.
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An independent committee would be the decider about the future of key editors at

The Wall Street Journal

and other media properties, under a deal between the

Dow Jones

(DJ)

board and

News Corp.

(NWS) - Get Report

, say published reports.

Late Thursday,

MarketWatch

, citing a source reported that a person familiar with the pact said that committee members, chosen by Rupert Murdoch's company, Dow Jones and controlling stakeholders, the Bancrofts, would have rights to hirings, dismissals and "any material changes to the terms and conditions of employment of key senior editors."

Reuters'

sources who asked to remain anonymous, disputed a

New York Times

report Thursday that said News Corp. would have the sole power to hire and fire top Wall Street Journal editors and that the board would have no power to approve candidates.

The two companies recently reached an agreement on how to preserve editorial independence at the

Journal

. The deal is the latest attempt to sway the Bancroft family to accept News Corp.'s offer.

On Wednesday, media mogul Murdoch said he has

no plans to raise his $60-a-share bid for Dow Jones, and he expects negotiations to conclude within two or three weeks.

Shares of Dow Jones after hours rose 4 cents to $57.84; News Corp. shares were off 15 cents to $22.94.