Tuesday, June 12, 2007

American Media is not Free

American Media is not Free

Explore the truth for yourselves, sit down with a clip board and watch CNN and FOX in particular and all other networks in general, and make notes, for every word they utter, see if there should have been another point of view.

Even when they present another point of view, see how they present the the other point of view through a weak and sometimes useless spokesperson. Do they ask hard questions, or passon smirk remarks as the gospel truth.

The Same goes with the other Television/Cable networks, Radio and Print Media.

Call any one of these talk show hosts, you will not be entertained if you have another point of view. That is the order of their bossess, as it is their business and they decide what goes on the air and that is alright, if they call Propaganda media.

The following article is about such struggle.

Bancrofts Set Revised
Safeguard Proposals
June 12, 2007; Page A2

Bancroft family advisers were expected to send News Corp. as early as today a revised set of proposals for a special board to safeguard The Wall Street Journal's editorial independence, but it was unclear if the suggested measures would bridge key differences over how the rules would be enforced, people familiar with the matter said.

"This is not a done deal," said one family member who asked not to be identified.
If News Corp., which last month offered $5 billion to acquire Dow Jones & Co., owner of the Journal, accepts the proposals, discussions between the two sides could then turn to other issues, including price. Upon agreement on those issues, the family, which controls Dow Jones, would then ask the company's board to begin formal negotiations with News Corp.

The Bancrofts have said they will continue talks with News Corp. only if an agreement is reached first on formal safeguards for the Journal. The family wants to include enforcement clauses in the agreement and ensure that the Journal newsroom has a strong voice on the board, according to people familiar with the matter. Family members were briefed on the status of the negotiations during a conference call with their advisers yesterday.

The new proposals come one week after family members met with News Corp. Chairman Rupert Murdoch for the first time to discuss ways to preserve the Journal's integrity should it be sold.

In a letter to the Bancroft family last month, Mr. Murdoch proposed a board "exactly along the lines of" the one he established at the Times of London and the Sunday Times, which he acquired in the early 1980s.

In that case, Mr. Murdoch agreed to give extra powers to independent directors on the papers' board. The six independent members are charged with protecting the two papers' editors in chief from interference by the owners "in expressing opinion or in reporting news that might directly or indirectly conflict with the opinions or interests of any of the newspaper proprietors," according to the newspapers' articles of association. The six are supposed to have approval over the hiring and firing of the top editors, who in turn are supposed to have control over staffing decisions.

Mr. Murdoch isn't supposed to give directions to any journalist except each paper's top editor.

But the Bancrofts are concerned that the London system hasn't kept Mr. Murdoch from meddling in the papers' editorial affairs and want a structure with more "teeth," according to people familiar with the matter. The family also wants to ensure that the Journal itself has strong representation on the board, these people say.
One issue the family has discussed is that the board would have a public mechanism to air disagreements with News Corp. in the event the board and News Corp.
management are at odds, according to a person familiar with the family's discussion.

The board would also have the power to hire and fire the managing editor of the Journal, this person said. The family was trying to come up with a structure in which the editorial side of the company would report to the board (which would have some control over budgets) and the business side of Dow Jones would report to News Corp., but family representatives were told by their advisers that such a structure was an unrealistic expectation, this person said.

Separately, Fidelity Management & Research, which had owned more than 7% of Dow Jones stock, disclosed in a filing yesterday that it had sold nearly all of its shares.
--Susan Pulliam and Sarah Ellison contributed to this article.
Write to Matthew Karnitschnig at matthew.karnitschnig@wsj.com

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