News Corp. pledged $2.5 mln to Dow Jones Watchdog's Group
From Reuters
Excerpt: Dow Jones & Co said on Thursday it did not know that one of the people named to protect its editorial independence after it becomes part of News Corp (NWSa.N: Quote, Profile, Research) runs a foundation that received a donation pledge of $2.5 million (1.2 million pounds) from News Corp.

Rupert Murdoch's global media conglomerate selected Massachusetts Institute of Technology Professor Nicholas Negroponte to be part of the five-member special committee that will oversee the editorial independence of Dow Jones's news operations including the Wall Street Journal.

Creation of the committee and agreement on who would be on it was part of News Corp's $5.6 billion deal to buy Dow Jones.

Asked if the donation compromised Negroponte's independence as a member of a group designed to safeguard Dow Jones' editorial integrity, Dow Jones spokeswoman Linda Dunbar said: "We are confident of the capability of the individuals to make independent decisions.

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Labels: media

Saudi Prince Buys Large Stake of Fox News Stock
From Forbes
Excerpt: The title of this financial romance: Rupert and the prince. The players: The chairman of News Corp. and Saudi Prince Alwaleed bin Talal. The billionaire aristocrat's office on Tuesday announced he upped his stake in the media and entertainment colossus to 5.46% of voting shares...
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Labels: Fox News, media, Saudi