News Corp. and Dow Jones have apparently come to some sort of agreement on a method that would ensure the Wall Street Journal's editorial independence. It seems kind of odd. I mean if a guy owns a paper, you would think that he would be able wield some influence over that paper. In any case, this may clear the way for News Corp. to proceed in its attempt to buy Dow Jones. It's hardly a done deal. The Bancrofts must still approve the terms and that is not a foregone conclusion. Dow Jones executives and possibly Bancroft family members must be disappointed that no other credible bidder has emerged. But there may be a company that steps forward. Now would be the time. The bar, of course, was set very high. This is not over. You have to give Rupert Murdoch credit for his tactics thus far. 

For more:
- here's an AP update