This image was lost some time after publication.

The Times examines the agreement between Rupert Murdoch and the Dow Jones board to protect the editorial independence of the Wall Street Journal: News Corp. would need the committee's approval to hire or fire editors. News Corp. and Dow Jones will jointly select the board's founding members, who would in turn choose future members.

The paper notes that the Bancrofts' still have to approve the larger deal, which might be a problem: The Journal reports that Bancroft family member Leslie Hill has been "scouring the East Coast, trying to drum up other offers for the company." Her alternatives include the Philadelphia Inquirer's Brian Tierney and MySpace founder Brad Greenspan. The paper calls the quest "quixotic." The Journal also discusses the S.E.C.'s developing case against the Hong Kong couple accused of insider trading of Dow Jones shares before the bid was announced. Forbes notes that Murdoch's wife, Wendi Deng, has been named chief of strategy for MySpace China, her first official post at News Corp.

In the Guardian, Roy Greenslade praises Time's current profile of Murdoch: "Some deal-making, threats of deal-breaking, explanations, apologies and promises. Rarely has any journalist, especially in recent weeks, managed to paint as good a portrait of the world's greatest living media mogul."

Finally, celebrity blogger Kurt Andersen returns after a two-month absence to weigh in on charges that Murdoch's business interests in China would result in skewed coverage of the country in the Journal. Kurt raises a point we haven't seen elsewhere:

Among the scads of coverage, why has no one — like, say, the News Corp. spokesman Gary Ginsberg — mentioned 24? During the last two seasons of the series, the Chinese government has been the heavy — they shanghaied and tortured both Jack Bauer and his girlfriend, conspired with Jack's murderous father, and almost caused Russia to attack the U.S. If Murdoch were really as determined to kowtow as he's been portrayed, why would he let one of his most successful shows consistently and grandly libel his Chinese pals?

Um, because it's a ludicrous, contrived rationale? It is totally bloggy, though: Welcome back, Kurt!