Romenesko

New York Times
Wall Street Journal managing editor Paul Steiger, his successor, Marcus Brauchli, deputy managing editor Dan Hertzberg, and Money and Investing editor Nikhil Deogun knew about Rupert Murdoch's $5 billion bid for Dow Jones before the news broke on CNBC. "It is not unusual for senior editors at news organizations to balance their corporate and editorial roles when faced with these kind of decisions," notes NYT's story. "But one unusual aspect of this story was that some investors may also have learned about the deal before the news broke, and traded on that information." As a result, the questions of who knew what and when they knew it inside the paper could become an issue in SEC inquiries.