Writes Sarah Ellison of The Wall Street Journal:

Dow Jones & Co delivered a proposal to safeguard its editorial independence to News Corp on Friday, the first step in a negotiation between the two companies about a possible takeover by News Corp.

News Corp officials reacted coolly to the document, which outlines broad protections for The Wall Street Journal and other Dow Jones properties.

It apparently “calls for a Special Committee on Editorial and Journalistic Independence and Integrity” and “would limit News Corp’s ability to control the use of The Wall Street Journal brand”.

Good luck Dow Jones. Given Rupert Murdoch’s reputation for interfering with his publications’ content, I’m fairly sure this is a non-starter. Expect a watered down version to emerge at the 11th hour as News Corp bids to clinch a deal.

Read the rest of the (extremely short) story here.

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