The New York Times reports about the face-to-face meeting.
Richard Perez-Peña’s lead:
Mr. Murdoch made clear that he would not accept the terms of the Bancroft family’s proposal, which would give a board of independent overseers the power to hire and fire top editors, according to people who were present or were briefed by participants, but, they said, Mr. Murdoch floated an alternate arrangement in the meeting, which lasted almost five hours.
“Both sides laid out the way they thought it should work, and neither side agreed with the other, but they’re eager to keep talking,” said someone who was briefed on the meeting but who was unauthorized to speak on behalf of the participants. “It was all very pleasant on both sides, but there’s still plenty of distance between the two.”
It will take time, but the deal is under way.
(Picture by David Karp/Associated Press)
