An announcement could come as early as today that Rupert Murdoch's News Corp. and the Dow Jones board of directors have agreed on editorial protections for the Wall Street Journal, allowing the two sides to start discussing Murdoch's bid for the company and its high-profile newspaper.
The Dow Jones directors seek the creation of a board that would serve as a buffer between the Journal and Murdoch. Such a board, which exists at Murdoch's Times of London, would mediate differences between Murdoch and the newsroom editors of the Journal, should they arise. Such editorial boards are generally empowered to issue binding decisions.
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