Document:

prex10_1.htm

    

    Exhibit
      10.1

     

     

    

    

    

    

    

     

    VOTING
      AND SUPPORT AGREEMENT

    

    

     

    BY
      AND
      AMONG

     

    NEWS CORPORATION
      AND

     

    THE
      SIGNATORY STOCKHOLDERS

     

     

    Dated
      as
      of July 31, 2007

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    VOTING
      AND SUPPORT AGREEMENT

     

     

    This
      VOTING AND SUPPORT AGREEMENT (this "Agreement") is entered into as of
      July 31, 2007 by and among News Corporation, a Delaware corporation
      ("Parent") and the persons executing this Agreement as "Stockholders" on
      the signature page hereto (collectively, the "Stockholders" and each
      individually, a "Stockholder").

     

    W
      I T N E
      S S E T H:

     

    WHEREAS,
      as of the date of this Agreement, each Stockholder "beneficially owns" (as
      such
      term is defined in Rule 13d-3 promulgated under the Securities Exchange Act
      of
      1934, as amended) and is entitled to dispose of (or to direct the disposition
      of) and/or to vote (or to direct the voting of) the number of shares of common
      stock, par value $1.00 per share (the "Common Stock"), of Dow Jones &
Company, Inc., a Delaware corporation (the "Company") and the number of
      shares of Class B common stock, par value $1.00 per share (the "Class B
      Common Stock," and together with the Common Stock, the "Company
      Shares") of the Company set forth opposite such Stockholder's name on
      Schedule I hereto (such Company Shares, together with any other Company Shares
      the voting power over which is acquired by any Stockholder in the capacity
      in
      which the Stockholder is executing this Agreement during the period from and
      including the date of this Agreement up to the termination of this Agreement
      in
      accordance with its terms (such period, the "Voting Period"), are
      collectively referred to herein as the "Subject Shares");

     

    WHEREAS,
      it is intended that the combination of Parent and the Company pursuant to the
      terms of that certain Agreement and Plan of Merger, dated July 31, 2007, between
      the Company, Parent, Ruby Newco LLC, a Delaware limited liability company
      (“Ruby Newco”), and Diamond Merger Sub Corporation, a Delaware
      corporation (as the same may be amended, the "Merger Agreement") shall be
      effected through the merger of Ruby Merger Sub with and into the Company (the
      "Merger"), at which time the separate existence of Diamond Merger Sub
      Corporation shall cease, and the Company shall be the surviving entity of the
      Merger (the "Surviving Corporation"); and

     

    WHEREAS,
      as a condition to the willingness of Parent, Ruby Newco, Diamond Merger Sub
      Corporation and the Company to enter into the Merger Agreement, and as an
      inducement and in consideration therefor, each Stockholder is executing this
      Agreement.

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual premises,
      representations, warranties, covenants and agreements contained herein, the
      parties hereto, intending to be legally bound, hereby agree as
      follows:

     

     

    
      
        
        

      

      
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    ARTICLE
      I

     

    DEFINITIONS

     

    Section
      1.1  Capitalized
      Terms.  For
      purposes of this Agreement, capitalized terms used and not defined herein shall
      have the respective meanings ascribed to them in the Merger
      Agreement.

     

    ARTICLE
      II

     

    VOTING
      AGREEMENT

     

    Section
      2.1  Agreement
      to Vote the Subject Shares.  Each
      Stockholder hereby agrees that, during the Voting Period, at any duly called
      meeting of the stockholders of the Company (or any adjournment or postponement
      thereof), and in any action by written consent of the stockholders of the
      Company, such Stockholder shall, if a meeting is held, appear at the meeting,
      in
      person or by proxy, or otherwise cause its Subject Shares to be counted as
      present thereat for purposes of establishing a quorum, and it shall vote or
      consent (or cause to be voted or consented), in person or by proxy, all its
      Subject Shares (x) in favor of the adoption of the Merger Agreement, the Merger
      and the other transactions contemplated by the Merger Agreement (and any actions
      required in furtherance thereof), (y) against any action, proposal, transaction
      or agreement that would result in a breach in any respect of any covenant,
      representation or warranty or any other obligation or agreement of the Company
      contained in the Merger Agreement or of any Stockholder contained in this
      Agreement, and (z) except with the written consent of Parent, against the
      following actions or proposals (other than the transactions contemplated by
      the
      Merger Agreement):  (i) any Diamond Acquisition Proposal (other than a
      Diamond Acquisition Proposal by Parent or its Affiliates); or (ii) any other
      action or proposal, involving the Company or any Diamond Subsidiary that would
      reasonably be expected to prevent or materially impede, interfere with, delay,
      postpone or adversely affect the transactions contemplated by the Merger
      Agreement, including the Merger. Each Stockholder agrees, during
      the Voting Period, not to enter into any agreement or commitment with any Person
      to vote, grant a proxy or grant a power of attorney, or participate, directly
      or
      indirectly, in the “solicitation” of any “proxies” or consents (as such terms
      are used in the rules of the Securities and Exchange Commission) from any Person
      to vote in a manner which would be inconsistent with or violative of the
      provisions and agreements contained in this Article II.

     

    Section
      2.2  Effect
      of Company Breach.  For
      the avoidance of doubt, each Stockholder agrees that, during the Voting Period,
      the obligations of each Stockholder specified in Section 2.1 shall not be
      affected by (i) any Recommendation Withdrawal (other than a public announcement
      by the Company board of directors expressly withdrawing its recommendation
      that
      the stockholders of the Company adopt the Merger Agreement (a “Qualifying
      Recommendation Change”)); it being understood that the delivery by the
      Company of a Superior Proposal Notice pursuant to Section 5.3(c) of the Merger
      Agreement shall not, in and of itself, constitute a Recommendation Withdrawal;
      or (ii) any breach by the Company of any of its representations, warranties,
      agreements or covenants set forth in the Merger Agreement.

     

    ARTICLE
      III

     

    COVENANTS

     

    Section
      3.1  Generally.

     

    (a)  Each
      Stockholder agrees that during the Voting Period, except as contemplated by
      the
      terms of this Agreement and except as set forth on Schedule I, it shall not,
      without the Parent's prior written consent, offer for sale, sell (including
      short sales), transfer, tender, pledge, encumber, assign or otherwise dispose
      of
      (including by gift) (collectively, a 

     

     

    
      
        
        

      

      
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      	"Transfer"),
              or enter into any contract, option, derivative, hedging or other agreement
              (including any profit-sharing arrangement) with respect to, or consent
              to,
              a Transfer of, any or all of the Subject
              Shares.

    

     

    (b)  In
      the
      event of a stock dividend or distribution, or any change in the Company Shares
      by reason of any stock dividend or distribution, split-up, recapitalization,
      combination, conversion, exchange of shares or the like, the term "Subject
      Shares" shall be deemed to refer to and include the Subject Shares as well
      as
      all such stock dividends and distributions and any securities into which or
      for
      which any or all of the Subject Shares may be changed or exchanged or which
      are
      received in such transaction.

     

    (c)  Each
      Stockholder agrees that it shall authorize and request the Company to notify
      its
      transfer agent that there is a stop transfer order with respect to all of the
      Subject Shares (subject to any exceptions set forth herein) and that this
      Agreement place limits on the voting of the Subject Shares.

     

    (d)  If
      so
      requested by the Parent or Company, each Stockholder agrees that the
      certificates representing the Subject Shares shall bear a legend stating that
      the Subject Shares are subject to this Agreement.

     

    Section
      3.2  Standstill
      Obligations of the Stockholders.  Each
      Stockholder, severally and not jointly, covenants and agrees with Parent that,
      during the Voting Period:

     

    (a)  Such
      Stockholder shall not, nor shall such Stockholder act in concert with any Person
      to, deposit any of the Subject Shares in a voting trust or subject any of the
      Subject Shares to any agreement with any Person with respect to the voting
      of
      the Subject Shares, except as provided by Article II of this
      Agreement.

     

    (b)  Such
      Stockholder shall not, nor shall such Stockholder act in concert with any Person
      to, directly or indirectly, initiate or solicit (including, in each case, by
      way
      of furnishing non-public information) the submission of any inquiries or the
      making of any proposal or offer that constitutes, or would reasonably be
      expected to lead to, a Diamond Acquisition Proposal, or engage in any
      discussions or negotiations with a Person or Persons who have made, or, to
      the
      Stockholder's knowledge, are actively considering making a Diamond Acquisition
      Proposal, or their respective Representatives with respect to any Diamond
Acquisition
      Proposal or otherwise knowingly cooperate with or knowingly assist or
      participate in any such inquiries, proposals, discussions or
      negotiations.

     

    (c)  Without
      limitation to the foregoing and subject to Section 3.2(e), promptly after
      receipt by such Stockholder of any Diamond Acquisition Proposal or proposal
      that
      would reasonably be expected to lead to a Diamond Acquisition Proposal from
      a
      Person or a group of related Persons, such Stockholder shall promptly (or shall
      promptly request the Company board of directors to) provide Parent with written
      notice of the identity of the Person or Persons making such Diamond Acquisition
      Proposal or any proposal that would reasonably be expected to lead to a Diamond
      Acquisition Proposal and the material terms and conditions thereof.

     

     

    
      
        
        

      

      
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    (d)  Such
      Stockholder shall cease immediately and cause to be terminated any and all
      existing discussions, conversations, negotiations and other communications
      with
      any Persons conducted heretofore with respect to, or that would reasonably
      be
      expected to lead to, a Diamond Acquisition Proposal.

     

    (e)  Notwithstanding
      the foregoing, in the event that the Company board of directors exercises its
      right (i) to enter into discussions or negotiations with a Third Party in
      compliance with Section 5.3(b) of the Merger Agreement and/or (ii) to provide
      information to a Third Party in compliance with Section 5.3(b) of the Merger
      Agreement, then each Stockholder (including with representatives) may
      participate in discussions or negotiations with such Third Party and/or provide
      information to such Third Party; provided, that any action taken by any
      such Stockholder shall be taken only in coordination with the Company board
      of
      directors.

     

    (f)  Parent
      acknowledges that each Stockholder is signing this Agreement solely in such
      Stockholder's capacity as a stockholder of the Company and is not making any
      agreement herein in his, her or its capacity as a director of the Company and
      nothing contained herein shall limit or affect any actions taken by any
      Stockholder, in his, her or its capacity as a director of the
      Company.

     

    ARTICLE
      IV

     

    REPRESENTATIONS
      AND WARRANTIES OF EACH STOCKHOLDER

     

    Each
      Stockholder hereby represents and warrants, severally and not jointly, to Parent
      as follows:

     

    Section
      4.1  Due
      Organization.  The
      Stockholder that is a corporation, limited liability company, partnership,
      trust
      or other entity (other than a natural person) is duly organized and validly
      existing under the laws of the jurisdiction of its organization.  The
      Stockholder has all necessary power and authority to execute and deliver this
      Agreement and to consummate the transactions contemplated hereby.  The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated hereby by the Stockholder have been duly authorized
      by
      all necessary action on the part of such Stockholder.  This Agreement,
      assuming due authorization, execution and delivery hereof by Parent and the
      other Stockholders, constitutes a legal, valid and binding obligation of such
      Stockholder enforceable against such Stockholder in accordance with its terms,
      except as such enforceability may be limited by bankruptcy,
      insolvency, fraudulent transfer, reorganization, moratorium and other similar
      Laws of general applicability relating to or affecting creditors' rights, and
      to
      general equitable principles.

     

    Section
      4.2  Ownership
      of Shares.  Schedule
      I sets forth opposite the Stockholder's name, the number of Company Shares
      over
      which such Stockholder has record and beneficial ownership as of the date of
      this Agreement.  As of the date of this Agreement, the Stockholder is
      the lawful owner of the Company Shares denoted as being owned by such
      Stockholder on Schedule I and has the sole power to vote or cause to be voted
      such shares or shares power to vote or cause to be voted such shares solely
      with
      one or more other Stockholders with respect to the Company Shares denoted on
      Schedule I.  The Stockholder does not own or hold any right to acquire
      any additional shares of any class of capital stock of the Company or

     

     

    
      
        
        

      

      
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      	other
              securities of the Company or any interest therein or any voting rights
              with respect to any securities of the Company other than the Subject
              Shares (other than the conversion feature of Class B Common
              Stock).  The Stockholder has good and valid title to the Company
              Shares denoted as being owned by such Stockholder on Schedule I , free
              and
              clear of any and all pledges, mortgages, Liens, charges, proxies, voting
              agreements, encumbrances, adverse claims, options, security interests
              and
              demands of any nature or kind whatsoever, other than those created
              by this
              Agreement and except for transfer restrictions of general applicability
              under the Securities Act of 1933, as amended, and under “blue sky”
              laws.

    

     

    Section
      4.3  No
      Conflicts.  (i)
      Except for Schedule 13D and 13G filings, Forms 4 or 5 filings or other similar
      filings with the SEC and those filing, consents or approvals as may be required
      by reason of the business or identity of Parent or any of its Affiliates, no
      filing with any Governmental Entity, and no authorization, consent or approval
      of any other Person is necessary for the execution of this Agreement by the
      Stockholder and the consummation by the Stockholder of the transactions
      contemplated hereby  (other than approval of this Agreement by the
      Company for purposes of Section 203 of the DGCL and for purposes of rendering
      Article Fourth of the Company's Restated Certificate of Incorporation
      inapplicable to this Agreement) and (ii) none of the execution and delivery
      of
      this Agreement by the Stockholder, the consummation by the Stockholder of the
      transactions contemplated hereby or compliance by the Stockholder with any
      of
      the provisions hereof shall (A) conflict with or result in any breach of the
      organizational documents of the Stockholder (if not a natural person), or (B)
      violate any applicable Order, rule or Law, except for any of the foregoing
      as
      would not reasonably be expected to impair the Stockholder's ability to perform
      its obligations under this Agreement.

     

    Section
      4.4  Revocation
      of Proxies.  The
      Stockholder represents that any proxies heretofore given in respect of such
      Company Shares are not irrevocable, and that any such proxies are hereby revoked
      and that the Stockholder shall take any additional action necessary to
      effectuate the foregoing.

     

    Section
      4.5  Reliance
      by Parent.  The
      Stockholder understands and acknowledges that Parent is entering into the Merger
      Agreement in reliance upon the execution and delivery of this Agreement by
      such
      Stockholder.

     

    ARTICLE
      V

     

    REPRESENTATIONS
      AND WARRANTIES AND COVENANTS OF PARENT

     

    Parent
      hereby represents and warrants to, and covenants with, the Stockholders as
      follows:

     

     

    Section
      5.1  Due
      Organization, etc.  Parent
      is a Delaware corporation duly organized and validly existing under the laws
      of
      the jurisdiction of its organization.  Parent has all necessary
      corporate power and authority to execute and deliver this Agreement and to
      consummate the transactions contemplated hereby.  The execution and
      delivery of this Agreement and the consummation of the transactions contemplated
      hereby by Parent have been duly authorized by all necessary action on the part
      of Parent.  This Agreement, assuming due authorization, execution and
      delivery hereof by each of the Stockholders, constitutes a legal, valid and
      binding obligation of Parent enforceable against Parent in accordance with
      its
      terms, 

     

     

    
      
        
        

      

      
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      	except
              as such enforceability may be limited by bankruptcy, insolvency,
              fraudulent transfer, reorganization, moratorium and other similar Laws
              of
              general applicability relating to or affecting creditors' rights, and
              to
              general equitable principles.

    

     

    Section
      5.2  Conflicts. 
       (i)
      No filing with any Governmental Entity, and no authorization, consent or
      approval of any other Person is necessary for the execution of this Agreement
      by
      Parent and the consummation by Parent of the transactions contemplated hereby
      (other than approval of this Agreement by the Company for purposes of Section
      203 of the DGCL and for purposes of rendering Article Fourth of the Company's
      Restated Certificate of Incorporation inapplicable to this Agreement) and (ii)
      none of the execution and delivery of this Agreement by Parent, the consummation
      by Parent of the transactions contemplated hereby shall (A) conflict with or
      result in any breach of the organizational documents of Parent or (B) violate
      any Order or Law, except for any of the foregoing as could not reasonably be
      expected to impair Parent's ability to perform its obligations under this
      Agreement.

     

    Section
      5.3  Reliance
      by the Stockholders.  Parent
      understands and acknowledges that the Stockholders are entering into this
      Agreement in reliance upon the execution and delivery of the Merger Agreement
      by
      Parent.

     

    Section
      5.4  Obligations
      of Parent.  Parent shall take all actions necessary to
      comply with Section 1.5(a) of the Merger Agreement.  From and after
      the Effective Time and through the tenth (10th) anniversary
      of
      the Closing Date (the “Board Representation Period”), in the event that the seat
      on the Board of Directors of Parent occupied by the individual appointed to
      the
      Board of Directors of Parent pursuant to Section 1.5(a) of the Merger Agreement
      (the “Initial Bancroft Director”) shall become vacant, or in the event that the
      Nominating and Corporate Governance Committee of the Board of Directors of
      Parent (the “Nominating Committee”) shall fail to nominate the Initial Bancroft
      Director for re-election at any applicable Annual Meeting of Parent
      Stockholders, then within thirty (30) Business Days thereafter, the Chairman
      of
      the Board of Directors of Parent (the “Parent Chairman”) shall propose to the
      Nominating Committee another individual, who is (i) a lineal descendant of
      Hugh
      Bancroft or a spouse of such a lineal descendant and (ii) “independent” of
      Parent as such term is defined under the
      Listing Rules of the New York Stock Exchange, Inc., the Listing Rules of the
      Australian Securities Exchange, the rules promulgated by the SEC under the
      Exchange Act and any applicable rules or policies of the Board of Directors
      of
      Parent (or any committee thereof), for nomination for appointment or election,
      as the case may be, to the seat on the Board of Directors of Parent previously
      held by the Initial Bancroft Director.  In the event that any such
      individual shall have been approved for nomination for appointment or election
      to the Board of Directors of Parent by the Nominating Committee, then Parent
      shall promptly send written notice of such approval to the Special Committee
      for
      its consent (by majority vote) to such individual’s nomination for appointment
      or election to the Board of Directors of Parent, which consent shall not be
      unreasonably withheld or delayed (provided that, in any event, the Special
      Committee shall inform the Parent Chairman of its consent or refusal to consent
      to any such individual’s nomination within ten (10) Business Days following the
      date upon which written notice of such individual's approval for nomination
      was
      sent to the Special Committee) (any individual with respect to which the Special
      Committee has given its consent, a “Qualifying Nominee”); provided that, once an
      individual has become a Qualifying Nominee, such individual will retain

     

     

    
      
        
        

      

      
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      	such
              status throughout the Board Representation Period and need not be
              re-submitted to the Special Committee for nomination for appointment
              or
              election to the Board of Directors of Parent pursuant to this Section
              5.4.  Upon designation of an individual as a Qualifying Nominee,
              the Nominating Committee shall nominate such individual for appointment
              or
              election to the Board of Directors of Parent (any individual so appointed
              or elected to the Board of Directors of Parent, the “Successor Bancroft
              Director”). In the event that the Nominating Committee shall fail to
              nominate any individual proposed by the Parent Chairman within ten
              (10)
              Business Days following the Parent Chairman's proposal or the Special
              Committee shall fail to provide its consent with respect to such
              individual’s nomination within ten (10) Business Days following the date
              upon which written notice of such individual's nomination was sent
              to the
              Special Committee, then the Parent Chairman shall propose another
              individual to be nominated to be the Successor Bancroft Director in
              accordance with the procedures set forth in this Section 5.4, with
              such
              process continuing until a Qualifying Nominee shall be so nominated
              to be
              the Successor Bancroft Director.  In the event that any
              Qualifying Nominee nominated for election to the Board of Directors
              of
              Parent (x) shall not be presented to the Parent stockholders for a
              vote
              upon such Qualifying Nominee’s election to the Board of Directors of
              Parent at any annual or special meeting of the Parent stockholders
              under
              circumstances in which this Section 5.4 would otherwise provide that
              such
              Qualifying Nominee be so presented, or (y) shall fail to receive
              sufficient votes to elect such Qualifying Nominee to the Board of
              Directors of Parent at any annual or special meeting of the Parent
              stockholders, then the Parent Chairman shall, within ten (10) Business
              Days following the date of such meeting, propose to the Nominating
              Committee another individual for nomination for appointment to the
              Board
              of Directors of Parent in compliance with the second sentence of this
              Section 5.4 and shall otherwise comply with the foregoing provisions
              with
              the respect to the appointment of such individual to the Board of
              Directors of Parent, with such process continuing until a Qualifying
              Nominee shall be nominated to be appointed to be the Successor Bancroft
              Director, with such Qualifying Nominee being  appointed to the
              Board of Directors of Parent within ten (10) Business Days following
              such
              nomination.  In the event that during the Board Representation
              Period any Successor Bancroft Director shall have been appointed or
              elected to the Board of Directors of Parent, and thereafter the seat
              on
              the Board of Directors of Parent occupied by any such Successor Bancroft
              Director shall
              become vacant, or in the event that the Nominating Committee shall
              fail to
              nominate any such Successor Bancroft Director for re-election at any
              applicable Annual Meeting of Parent Stockholders, the Parent Chairman
              shall comply with the foregoing provisions to the same extent as
              applicable with respect to the Initial Bancroft Director.  It is
              expressly acknowledged and agreed that nothing contained in this Agreement
              shall in any way limit the ability of the Nominating Committee to exercise
              its fiduciary duties to the stockholders of Parent in determining whom
              to
              nominate to the Board of Directors of Parent or limit the ability of
              the
              stockholders of Parent to vote on the election of any Person to the
              Board
              of Directors of Parent, including without limitation the Initial Bancroft
              Director or any individual nominated to be the Successor Bancroft
              Director.  The foregoing shall apply to the acquiring
              or

    

     

     

    
      
        
        

      

      
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        	successor
                entity of Parent in the event of an acquisition of or other extraordinary
                transaction involving Parent in which directors of Parent immediately
                before such acquisition or transaction continue to constitute a majority
                of the board of the acquiring or successor entity immediately following
                such acquisition or transaction or the shareholders of Parent immediately
                before such acquisition or transaction continue to own or control
                a
                majority of the voting power of the acquiring or successor entity
                immediately following such acquisition or transaction.  Parent
                shall not take any actions which would reasonably be expected to
                have the
                effect of depriving the Stockholders of the right to such representation
                on the Board of Directors.  Notwithstanding anything to the
                contrary contained in this Agreement, all obligations of Parent and
                the
                Parent Chairman set forth in this Section 5.4 shall immediately terminate
                and shall be of no further force and effect upon the termination
                of this
                Agreement (other than pursuant to Section
                6.1(ii)).

      

    

     

    ARTICLE
      VI

     

    TERMINATION

     

    Section
      6.1  Termination. 
      This
      Agreement shall automatically terminate, and none of Parent or any Stockholder
      shall have any rights or obligations hereunder and this Agreement shall become
      null and void and have no effect upon the earliest to occur of (i) the mutual
      consent of Parent and all of the Stockholders, (ii) the Effective Time, (iii)
      the termination of the Merger Agreement in accordance with its terms (including,
      without limitation, a termination by Diamond pursuant to Section 7.1(h) of
      the
      Merger Agreement), (iv) the vote of a majority (in terms of aggregate voting
      power) of the Subject Shares in favor of the termination of this Agreement
      by
      the Stockholders entitled to vote such Subject Shares for such purpose (such
      Stockholders, the “Majority Stockholders”); providedthat any such
      termination pursuant to this clause (iv) shall be effective if, and only if,
      the
      Stockholders shall have complied in all material respects with Section 6.2(b);
      and (v) a Qualifying Recommendation Change.  The termination of this
      Agreement shall not prevent any party hereunder from seeking any remedies (at
      law or in equity) against another party hereto or relieve such party from
      liability for such party's willful or intentional breach of any terms of this
      Agreement.  Notwithstanding anything to the contrary herein, the
      provisions of the preceding sentence of this Section 6.1 shall survive the
      termination of this Agreement and, in the event that the Effective Time occurs,
      the provisions of Article V and, to the extent they relate to Article V, the
      provisions of Article VII shall survive and remain in effect until the 10th anniversary
      of the
      Effective Time.

     

    Section
      6.2  (a)  In
      the event that any Stockholder receives a Diamond Acquisition Proposal, such
      Stockholder shall, with respect to such Diamond Acquisition Proposal,
      provide notices and other information to Parent and the Company board of
      directors to the same extent as would be required under Section 5.3(b) of the
      Merger Agreement if all references to “Diamond” as the provider of notices and
      other information in such Section 5.3(b) were deemed to be references to such
      Stockholder, all references to “Ruby” as the receiver of notices and other
      information in such Section 5.3(b) were deemed to be references to each of
      Parent and the Company board of directors and all references to "one (1)
      Business Day" in such Section 5.3(b) were deemed to be references to three
      (3)
      Business Days.

     

    (b)  If,
      at any time prior to receipt of the Diamond Stockholder Approval, any
      Stockholder shall have received a Diamond Acquisition Proposal which the
      Majority Stockholders shall have concluded in good faith constitutes a Superior
      Acquisition Proposal, the Majority Stockholders may terminate this Agreement
      pursuant to Section 6.1(iv) by written notice to Parent, if, and only if, prior
      to any such termination (i) each Stockholder shall have complied with its
      obligations under Section 3.2 and Section 6.2(a), (ii) the Majority Stockholders
      shall have provided prior written notice (“Superior Proposal Notice”) to each of
      Parent and the 

     

     

    
      
        
        

      

      
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      	Company
              board of directors, at least three (3) Business Days in advance of
              such
              termination, of their intention to terminate this Agreement pursuant to
              Section 6.1(iv), which such notice shall specify
              the material terms and conditions of the Superior Acquisition Proposal
              (including the terms of the consideration that the holders of shares
              of
              Diamond Common Stock will receive per share of Diamond Common Stock
              and
              including any written agreement providing for a Superior Acquisition
              Proposal and the identity of the Person making such Superior Acquisition
              Proposal); (iii)
              the Majority Stockholders shall have (x) in the event of any material
              change to the material terms of a Superior Acquisition Proposal (it
              being
              understood that a change in price shall be deemed to be a material
              change
              to a material term) delivered to Parent a written notice specifying
              the
              material terms and conditions of such modified Superior Acquisition
              Proposal (including the terms of the consideration that the holders
              of
              shares of Diamond Common Stock will receive and including any written
              agreement providing for a Superior Acquisition Proposal and the identity
              of the Person making such Superior Acquisition Proposal), and (y)
              regardless of whether clause (x) above is applicable, to the extent
              that
              Parent proposes changes to the terms of the Merger Agreement during
              the
              three (3) Business Day period referred to above (as the same be extended
              in accordance with clause (iv) of this paragraph), negotiated in good
              faith with Parent with respect to such changes during such period;
              and
              (iv) in the event that the Company shall have delivered a Superior
              Proposal Notice pursuant to Section 5.3(c) of the Merger Agreement,
              the 3
              Business Day Period (including any extension thereof as set forth in
              Sections 5.3(c) and 7.1(g)(v) of the Merger Agreement) referenced in
              such
              Section 5.3(c) shall have expired.

    

     

    For
      purposes of this Agreement:

     

    “Superior
      Acquisition Proposal” means a bona fide written Diamond Acquisition Proposal,
      which proposal was not the result of a breach of Section 3.2 of this Agreement,
      made by a Third Party on terms that the Majority Stockholders determine in
      their
      good faith judgment (after consultation with outside counsel and its financial
      advisor) (x) would, if consummated, be more favorable to the majority of the
      beneficiaries of the Stockholders, taken as a whole, from a financial point
      of
      view than the transactions contemplated by the Merger Agreement (taking into
      account any changes proposed by Parent to the terms of the Merger Agreement
      in
      response to a Diamond Acquisition Proposal) and (y) and is reasonably likely
      to
      be completed; provided that, for
      the
      purposes of this definition of “Superior Acquisition Proposal”, the term Diamond
      Acquisition Proposal shall have the meaning assigned to such term in Section
      5.3(d)(i) of the Merger Agreement, except that the reference to “20% or more” in
      the definition of “Diamond Acquisition Proposal” shall be deemed to be a
      reference to “60% or more.”

     

    Section
      6.3     In addition, notwithstanding anything
      to the contrary contained herein, any Stockholder may terminate this Agreement
      as to such Stockholder in the event the Merger Agreement is amended in a manner
      that results in any decrease in the Merger Consideration (such amendment, a
      "Decreased Consideration Amendment"), unless a Stockholder agrees in writing
      to
      continue to be bound by the terms and conditions of this Agreement with respect
      to its Subject Shares from and after the date of such amendment, in which case
      this Agreement shall continue in full force and effect only with respect to
      the
      Subject Shares of such Stockholders who so agree; provided, that, any change
      or
      amendment to the Merger Consideration made pursuant to Section 6.4 of the Merger
      Agreement shall not constitute a Decreased Consideration Amendment.

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VII

     

    MISCELLANEOUS

     

    Section
      7.1  Appraisal
      Rights.  Each
      Stockholder agrees not to seek appraisal or assert any rights of dissent from
      the Merger that it may have under Section 262 of the DGCL and, to the extent
      permitted by applicable Law, each Stockholder hereby waives any rights of
      appraisal or rights to dissent from the Merger that it may have under Section
      262 of the DGCL.

     

    Section
      7.2  Publication. 
      Each
      Stockholder hereby permits the Company and Parent to publish and disclose in
      the
      Registration Statement and the Proxy Statement (including all documents and
      schedules filed with the United States Securities and Exchange Commission)
      such
      Stockholder's identity and ownership of the Company Shares and the nature of
      its
      commitments, arrangements and understandings pursuant to this Agreement;
      provided, that the Stockholders’ representatives shall be given a reasonable
      opportunity to review and comment (and such reasonable comments shall be
      accepted) on any such proposed disclosure.

     

    Section
      7.3  Capacity. 
      It
      is
      understood and agreed that any person executing this Agreement in the capacity
      as a trustee of a trust is executing this Agreement only in the capacity of
      a
      trustee of that particular trust and as to the Subject Shares of that trust
      as
      set forth opposite the Stockholder’s name on Schedule I and in no other
      capacity.  In addition, no person executing this Agreement in the
      capacity of a trustee of a trust shall be responsible or liable for the actions
      or omissions of such person’s co-trustees of such trust.

     

    Section
      7.4  Further
      Actions.  Each
      of
      the parties hereto agrees to take any further actions necessary to effectuate
      this Agreement.

     

    Section
      7.5  Fees
      and Expenses.  Each
      of
      the parties shall be responsible for its own fees and expenses (including,
      without limitation, the fees and expenses of investment bankers,
      accountants and counsel) in connection with the entering into of this Agreement
      and the consummation of the transactions contemplated hereby and by the Merger
      Agreement; provided that the foregoing shall not be construed so as to limit
      any
      agreement by the Company to bear any fees or expenses of Merrill Lynch, Pierce,
      Fenner & Smith Incorporated in respect of its services in connection with
      the entering into of this Agreement and the consummation of the transactions
      contemplated hereby and by the Merger Agreement and except as set forth in
      Section 3.19 of the Merger Agreement and Section 3.19 of the Diamond Disclosure
      Letter.

     

    Section
      7.6  Amendments,
      Waivers, etc.  This
      Agreement may not be amended, changed, supplemented, waived or otherwise
      modified, except upon the execution and delivery of a written agreement executed
      by each of the parties hereto.  The failure of any party hereto to
      exercise any right, power or remedy provided under this Agreement or otherwise
      available in respect hereof at law or in equity, or to insist upon compliance
      by
      any other party hereto with its obligations hereunder, and any custom or
      practice of the parties at variance with the terms hereof shall not constitute
      a
      waiver by such party of its right to exercise any such or other right, power
      or
      remedy or to demand such compliance.

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    Section
      7.7  Notices. 
      All
      notices, requests, demands, waivers and other communications required or
      permitted to be given under this Agreement to any party hereunder shall be
      in
      writing and deemed given if addressed as provided below (or at such other
      address as the addressee shall have specified by notice actually received by
      the
      addressor) and if either (i) actually delivered , to such address, (ii) in
      the
      case of any nationally recognized express mail service, one (1) Business Day
      shall have elapsed after the same shall have been deposited with such service
      or
      (iii) if by fax (receipt confirmed), on the day on which such fax was
      sent.

     

    If
      to
      Parent:

     

    
      
        	 	
                News
                  Corporation

                1211
                  Avenue of the Americas

                New
                  York, NY  10036

                Attention:  General
                  Counsel

                Facsimile:  (212)
                  768-9896

              

      

       

    

                                            with
      an additional copy (which shall not constitute notice) to:

    
       

      
        
          	 	
                  Skadden, Arps, Slate, Meagher & Flom
                    LLP

                  Four Times Square

                  New York, NY  10036

                  Attention:  Lou R. Kling

                                     
                    Howard L. Ellin

                  Facsimile:
                    212-735-2000

                

        

                                                 
          

      

    

    If
      to any
      Stockholder, then to the address or facsimile number for such Stockholder set
      forth on Schedule I attached hereto.

    
       

    

    Section
      7.8  Headings. 
      The
      headings contained in this Agreement are for reference purposes only and shall
      not affect in any way the meaning or interpretation of this
      Agreement.

     

    Section
      7.9  Severability. 
      If
      any
      term or other provision of this Agreement is invalid, illegal or incapable
      of
      being enforced by any rule of law or public policy, all other conditions and
      provisions of this Agreement shall nevertheless remain in full force and effect
      so long as the economic or legal substance of the transactions contemplated
      hereby is not affected in any manner adverse to any party.  Upon such
      determination that any term or other provision is invalid, illegal or incapable
      of being enforced, the parties hereto shall negotiate in good faith to modify
      this Agreement so as to effect the original intent of the parties as closely
      as
      possible in an acceptable manner to the end that the transactions contemplated
      hereby are fulfilled to the fullest extent possible.

     

    Section
      7.10  Entire
      Agreement; Assignment.  This
      Agreement (together with the Merger Agreement, to the extent referred to herein)
      constitutes the entire agreement among the parties with respect to the subject
      matter hereof and supersedes all prior agreements and undertakings, both written
      and oral, among the parties, or any of them, with respect to the subject

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     

    
      	matter
              hereof.  Except as provided herein, this Agreement shall not be
              assigned by operation of law or otherwise without the prior written
              consent of each of the other parties, except that Parent may assign
              all or
              any of its rights and obligations hereunder (other than those under
              Article V and, to the extent related thereto, Articles VI and VII)
              to any
              direct or indirect wholly-owned Subsidiary of
              Parent.

    

     

    Section
      7.11  Parties
      in Interest.  This
      Agreement shall be binding upon and inure solely to the benefit of each party
      hereto, and nothing in this Agreement, express or implied, is intended to or
      shall confer upon any other Person any rights, benefits or remedies of any
      nature whatsoever under or by reason of this Agreement.

     

    Section
      7.12  Interpretation. 
      When
      reference is made in this Agreement to a Section, such reference shall be to
      a
      Section of this Agreement unless otherwise indicated.  Whenever the
      words "include", "includes" or "including" are used in this Agreement, they
      shall be deemed to be followed by the words "without limitation."  The
      words "hereof," "herein," "hereby" and "hereunder" and words of similar import
      when used in this Agreement shall refer to this Agreement as a whole and not
      to
      any particular provision of this Agreement.  The word "or" shall not
      be exclusive.  Whenever used in this Agreement, any noun or pronoun
      shall be deemed to include the plural as well as the singular and to cover
      all
      genders.  This Agreement shall be construed without regard to any
      presumption or rule requiring construction or interpretation against the party
      drafting or causing any instrument to be drafted.

     

    Section
      7.13  Governing
      Law.  THIS
      AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
      OF
      THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES
      THEREOF.

     

    Section
      7.14  Specific
      Performance; Jurisdiction.  The
      parties agree that irreparable damage would occur in the event that any of
      the
      provisions of this Agreement were not performed in accordance with their
      specific terms or were otherwise breached.  It is accordingly agreed
      that the parties may be entitled to an injunction or injunctions to prevent
      breaches of this Agreement and to enforce specifically the terms and provisions
      of this Agreement in the Court of Chancery of the State of Delaware or, if
      under
      applicable law exclusive jurisdiction over such matter is vested in the federal
      courts, any court of the United States located in the State of Delaware, this
      being in addition to any other remedy to which such party is entitled at law
      or
      in equity.  In addition, each of the parties hereto (i) consents to
      submit itself to the personal jurisdiction of the Court of Chancery of the
      State
      of Delaware or any court of the United States located in the State of Delaware
      in the event any dispute arises out of this Agreement or any of the transactions
      contemplated by this Agreement, (ii) agrees that it will not attempt to deny
      or
      defeat such personal jurisdiction by motion or other request for leave from
      any
      such court, (iii) agrees that it will not bring any action relating to this
      Agreement or any of the transactions contemplated by this Agreement in any
      court
      other than the Court of Chancery of the State of Delaware or, if under
      applicable law exclusive jurisdiction over such matter is vested in the federal
      courts, any court of the United States located in the State of Delaware and
      (iv)
      consents to service being made through the notice procedures set forth in
      Section 7.7.  Each of Parent and the Stockholders hereby agrees that
      service of any process, summons, notice or 

     

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

     

    
      	document
              by U.S. registered mail to the respective addresses set forth in Section
              7.7 shall be effective service of process for any Proceeding in connection
              with this Agreement or the transactions contemplated
              hereby.

    

     

    Section
      7.15  Enforcement.  The
      Jane Bancroft 1934 Tust f/b/o Martha S. Robes, the Jane Bancroft 1934 Trust
      f/b/o Elizabeth Steele and the Jessie Cox 1935 Trust f/b/o William C. Cox shall
      have the right, jointly or separately, to enforce the rights of the Stockholders
      and the obligations of Parent and the Parent Chairman under Section 5.4 hereof
      (and the provisions of Articles VI and VII to the extent related to Section
      5.4
      hereof), on behalf of themselves and/or on behalf of other
      Stockholders.  It is intended and agreed that the Jane Bancroft
      1934 Trust f/b/o Martha S. Robes, the Jane Bancroft 1934 Trust f/b/o Elizabeth
      Steele and the Jessie Cox 1935 Trust f/b/o William C. Cox be the only
      Stockholders with the right to seek enforcement of the rights and obligations
      referred to in the preceding sentence.

     

    Section
      7.16  Counterparts. 
      This
      Agreement may be signed in any number of counterparts, each of which shall
      be
      deemed an original, with the same effect as if the signatures thereto and hereto
      were upon the same instrument.

     

    
       

    

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      IN
        WITNESS WHEREOF, Parent and each Stockholder have caused this Agreement to
        be
        duly executed as of the day and year first above written.

      
         

      

    

     

    
      
        	
              	
                NEWS
                  CORPORATION

              	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
                  

              	/s/        
                Lawrence A. Jacobs	 
	 	 	Name:  
Lawrence
                A.
                Jacobs  	 
	 	 	Title:    
                Senior Executive Vice President	 
	 	 	             
                Group General Counsel	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        
           

          IN
            WITNESS WHEREOF, Parent and each Stockholder have caused this Agreement
            to be
            duly executed as of the day and year first above written.

           

           

          
            
              
                	 	 [STOCKHOLDER]	 
	 	 	 	 
	 	 	 	 
	
                         

                      	
                        By:
                          

                      	 	 
	 	 	Name: 
	 
	 	 	Title:prex10_2.htm

     

    Exhibit
      10.2

     

     

    AGREEMENT

     

     

    OF

     

     

    NEWS
      CORPORATION,

     

     

    DOW
      JONES & COMPANY, INC.

     

     

    AND

     

     

    THE
      SPECIAL COMMITTEE

     

     

    

     

     

    Dated
      as of [l]

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    

      
        	
                ARTICLE
                  I SPECIAL COMMITTEE

              	
                1

              
	 	1.1   	Establishment	1
	 	
                1.2

              	
                Composition

              	
                2

              
	 	
                1.3

              	
                Meetings
                  and Actions of the Special Committee

              	
                4

              
	 	
                1.4

              	
                Roles
                  and Responsibilities of the Special Committee

              	
                5

              
	 	
                1.5

              	
                Arbitrating
                  and Resolving Disputes

              	
                8

              
	 	
                1.6

              	
                No
                  Modification

              	
                8

              

      

      

      
        	
                ARTICLE
                  II THE COMPANY

              	
                8

              
	 	
                2.1

              	
                Representations,
                  Warranties and Agreements of the Company and Dow Jones

              	
                8

              

      

      

      
        	
                ARTICLE
                  III MEMBERS

              	
                9

              
	 	
                3.1

              	
                Powers
                  of Execution

              	
                9

              
	 	
                3.2

              	
                Compensation;
                  Expenses; Support of the Members

              	
                9

              
	 	
                3.3

              	
                Performance
                  of Duties; Access to Information and Advisors

              	
                10

              
	 	
                3.4

              	
                Liability;
                  Indemnification of Members

              	
                10

              

      

      

      
        	
                ARTICLE
                  IV MISCELLANEOUS PROVISIONS

              	
                11

              
	 	
                4.1

              	
                Notices

              	
                11

              
	 	
                4.2

              	
                Governing
                  Law

              	
                12

              
	 	
                4.3

              	
                Interpretation;
                  Headings and Sections

              	
                12

              
	 	
                4.4

              	
                Amendment
                  and Waiver

              	
                13

              
	 	
                4.5

              	
                Assignment;
                  Third Party Beneficiaries

              	
                13

              
	 	
                4.6

              	
                Counterparts

              	
                13

              
	 	
                4.7

              	
                Severability

              	
                13

              
	 	
                4.8

              	
                Remedies

              	
                14

              
	 	
                4.9

              	
                No
                  Strict Construction

              	
                14

              
	 	
                4.10

              	
                Entire
                  Agreement

              	
                14

              
	 	
                4.11

              	
                Submission
                  to Jurisdiction

              	
                14

              
	 	
                4.12

              	
                Waiver
                  of Jury Trial

              	
                15

              

      

      
 

    

    SCHEDULES

    

    
      	
              Schedule
                A

            	
              Initial
                Members of the Special Committee

            

    

    
      	
              Schedule
                B

            	
              Covered
                Employees

            

    

     

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

    AGREEMENT

    OF

    NEWS
      CORPORATION,

    DOW
      JONES & COMPANY, INC.

    AND

    THE
      SPECIAL COMMITTEE

    

    AGREEMENT
      (this “Agreement”), dated as of [l], by and
      among
      NEWS CORPORATION, a Delaware corporation (the “Company”), DOW JONES &
COMPANY, INC., a Delaware corporation (“Dow Jones”), and the Special
      Committee (as defined below).

     

    Recitals:

     

    WHEREAS,
      the Company, Dow Jones and certain other parties have entered into an Agreement
      and Plan of Merger, dated as of July 31, 2007 (the “Merger Agreement”),
      pursuant to which the Company is acquiring all of the issued and outstanding
      shares of capital stock of Dow Jones;

     

    WHEREAS,
      in connection with the execution and delivery of the Merger Agreement, certain
      Bancroft Investors (as defined in the Merger Agreement) have executed and
      delivered a Voting and Support Agreement, dated as of July 31, 2007 (the
“Voting Agreement”) pursuant to which those Bancroft Investors have
      agreed to vote, or cause to be voted, the shares of capital stock of Dow Jones
      beneficially owned by them in favor of the adoption of the Merger
      Agreement;

     

    WHEREAS,
      pursuant to the Merger Agreement, (i) each of the Company and Dow Jones is
      required to adopt, execute and deliver, and comply with, and cause its
      subsidiaries, as applicable, to comply with, this Agreement and (ii) the Company
      is required to establish and maintain the Special Committee contemplated by
      this
      Agreement; and

     

    WHEREAS,
      it is a condition to Dow Jones’s obligation to consummate the transactions
      contemplated by the Merger Agreement and a condition to the willingness of
      the
      Bancroft Investors to execute and deliver the Voting Agreement, that in
      connection with the consummation of the transactions contemplated by the Merger
      Agreement, the Company and Dow Jones shall have adopted and executed and
      delivered this Agreement, and the Company shall have established the Special
      Committee and appointed the Initial Committee Members (as defined in the Merger
      Agreement) to the Special Committee.

     

    NOW,
      THEREFORE, in consideration of the foregoing, and the mutual covenants and
      agreements herein made and other good and valuable consideration, the parties
      hereto hereby agree as follows:

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      ARTICLE
        I

       

      SPECIAL
        COMMITTEE

       

      1.1           Establishment.

       

      (a)           The
        Company hereby establishes a stand-alone special committee (the “Special
        Committee”) to oversee and enforce compliance by the Company and Dow Jones
        and their Affiliates with the terms of this Agreement and to perform the
        obligation and undertake its responsibilities and rights
        hereunder.  The Special Committee shall have perpetual
        existence.  For the avoidance of doubt, the Special Committee is a
        special committee of the Company and is not a committee of the Board of
        Directors of the Company or Dow Jones.

       

      1.2           Composition.

       

      (a)           The
        Special Committee shall consist of five (5) members (“Members”) who are
        distinguished community or journalistic leaders and who are independent of
        the
        Company, Dow Jones, the Murdoch family, the Bancroft family and their respective
        Affiliates (as defined by Rule 12b-2 under the Securities Exchange Act of
        1934,
        as amended).  As used in this Agreement, the term “independent” shall
        refer to persons who, in the sole judgment of the Special Committee, are
        able to
        consider and evaluate objectively any issue that comes before the Special
        Committee and whose judgment is not impaired by any interest in or relationship
        with the Company, Dow Jones, the Murdoch family, the Bancroft family or their
        respective Affiliates.  Employees, directors and consultants of the
        Company, Dow Jones or their respective Affiliates shall be deemed not to
        be
        independent.  Any Member shall promptly report to all of the other
        Members any change in his or her circumstances which may reasonably be expected
        to bear on the determination of his or her status as independent (as defined
        herein).

       

      (b)           The
        Members of the Special Committee shall be divided into three classes. The
        first
        class shall consist of one Member and the second and third classes shall
        consist
        of two Members. The initial term of the first class shall expire on December
        31,
        2012; the initial term of the second class shall expire on December 31, 2013;
        the initial term of the third class shall expire on December 31,
        2014.  Upon the expiration of the term of any class, a new term of the
        class shall commence, and this term shall expire on the fifth anniversary
        of the
        commencement of this term.  Subject to Sections 1.2(e) and 1.2(f),
        each of the Members in a class of the Special Committee shall hold office
        until
        expiration of the term of such class and the appointment of his or her successor
        as a Member of such class.

       

      (c)           Upon
        the expiration of the term of a class, a majority of the remaining Members
        of
        the Special Committee shall appoint or reappoint an individual or individuals,
        as applicable, selected by the Special Committee as a Member or Members,
        as
        applicable, of the class for the new term then commencing.  Any
        appointment or reappointment shall be subject to the approval of the Company,
        which shall not be unreasonably withheld or delayed.  Any proposed
        appointment or reappointment shall be deemed to be approved by the Company
        if no
        written objection to the appointment or reappointment is received from the
        Company by the Special Committee within ten (10) business days following
        the
        Company’s receipt from the Special Committee of written notice of the proposed
        appointment or reappointment.  Subject to 

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        
          	 the
                  foregoing sentence, a Member may be reappointed to the Special
                  Committee
                  upon the expiration of the term of his or her
                  class.

        

      

       

                      (d)           The
        Special Committee shall appoint an individual selected by a majority of the
        remaining Members of the Special Committee as a Member to fill any vacancy
        in
        any class of the Special Committee resulting from any resignation, death
        or
        removal of a Member.  Any such appointment shall be subject to the
        approval of the Company, which shall not be unreasonably withheld or
        delayed.  Any proposed appointment shall be deemed to be approved by
        the Company if no written objection to the appointment is received from the
        Company by the Special Committee within ten (10) business days following
        the
        Company’s receipt from the Special Committee of notice of the proposed
        appointment.  Any Member appointed in accordance with the foregoing
        shall be a Member of the class of the Special Committee in which the vacancy
        existed.

       

      (e)           A
        Member may resign from the Special Committee by submitting a letter to the
        Chairman of the Special Committee, who will confirm receipt in writing and
        notify the Special Committee of this resignation.  In the event that
        the Chairman resigns, the Chairman shall submit a letter of resignation to
        each
        of the remaining Members, any one of who shall confirm receipt in
        writing.  A resignation shall take effect at the time specified
        therein and, if no time is specified, at the time of its receipt by the Chairman
        or the remaining Members, as applicable.  A Member shall resign
        forthwith if his or her circumstances change such that the Member ceases
        to be
        (or the other Members determine that the Member ceases to be) independent
        (as
        defined herein).

       

      (f)           A
        Member may be removed from the Special Committee if determined by the unanimous
        vote of the other Special Committee Members that (x) he or she has materially
        failed to fulfill his or her responsibilities as a Member (it being acknowledged
        and agreed that any substantive dispute over decision-making under this
        Agreement shall not constitute such a failure), or (y) such Member has ceased
        to
        be independent (as defined herein); provided, however, that the Special
        Committee may not remove a Member on the basis of this determination unless
        (i)
        the Special Committee shall have given each of such Member and the Company
        notice specifying in reasonable detail the acts or failure to act on the
        part of
        the Member giving rise to the Special Committee’s determination, (ii) the Member
        shall have been given at least ninety (90) days after the delivery of such
        notice to the Member to discontinue, and during such time shall have not
        discontinued, the acts or failures to act specified in the notice and (iii)
        each
        of the Member and the Company shall have been given the opportunity to address
        the Special Committee prior to the Special Committee taking this
        action.  A Member may also be removed from the Special Committee by
        determination of a majority of the other Members for “Cause.”  For
        purposes of this paragraph 1.2(f), “Cause” shall mean a plea of guilty or nolo
        contendere to, or nonappealable conviction of, a felony on the part of a
        Member,
        which conviction or plea, of the action or failure to act giving rise to
        the
        conviction or plea a majority of the other Members determine causes or caused,
        or is reasonably like to cause, material damage to the reputation of the
        Company, Dow Jones or the Special Committee.

       

      (g)           The
        individuals set forth on Schedule A shall be the initial Members of the Special
        Committee.  Each of these individuals shall be a Member of the class
        of the Special Committee indicated for the individual on Schedule
        A.  In the event that any of the individuals 

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

       

      
        
          	 set
                  forth on Schedule A shall be unable to serve as a Member of the
                  Special
                  Committee upon the Closing Date (as defined in the Merger Agreement),
                  each
                  such individual will be replaced with an individual designated
                  by Dow
                  Jones, subject to the approval of the Company, which shall not
                  be
                  unreasonably withheld or delayed, and which approval shall be deemed
                  to be
                  granted if no written objection to the appointment is received
                  by Dow
                  Jones within ten (10) business days following the Company’s receipt of
                  notice thereof.

        

      

       

      (h)           The
        individual designated on Schedule A shall be the initial chairman of the
        Special
        Committee (“Chairman”).  In the event that at any time there is no
        Chairman, the Special Committee shall elect a successor Chairman from among
        its
        Members to serve for a period determined by the Special
        Committee.  The Chairman may be removed as Chairman by the Special
        Committee at any time.  The Chairman’s responsibilities shall
        include:

       

      (i)           setting
        the agenda for all Special Committee meetings;

       

      (ii)           presiding
        at all meetings of the Special Committee;

       

      (iii)           overseeing
        the execution of the Special Committee decisions and certifying reports and
        other documents issued by the Special Committee; and

       

      (iv)           other
        powers and duties, consistent with this Agreement and his or her position
        as
        Chairman as may be prescribed from time to time by the Special
        Committee.

       

      1.3           Meetings
        and Actions of the Special Committee.

       

      (a)           Regular
        meetings of the Special Committee shall be held at least quarterly at a location
        in New York City, New York, at such time and place as shall be set forth
        in the
        notice of meeting.  The objective will be to hold the meetings within
        two weeks of the beginning of each calendar quarter.  Regular meetings
        of the Special Committee may be called by the Chairman or by any three Members
        (or, if the Special Committee shall at any time consist of fewer than three
        (3)
        Members, all Members) on no less than forty-eight (48) hours’ notice to each
        Member (or upon shorter notice as may be approved by the Special Committee),
        either personally, by mail, by facsimile, by electronic transmission, by
        telegram, telephone or in such other manner as may be approved by the Special
        Committee.

       

      (b)           Special
        meetings of the Special Committee may be called at any time by the Company,
        the
        Chairman of the Special Committee or by any three Members (or, if the Special
        Committee shall at any time consist of fewer than three (3) Members, all
        Members) on no less than twenty-four (24) hours’ notice to each Member (or upon
        shorter notice as may be approved by the Special Committee), either personally
        or by mail, by facsimile, by electronic transmission, by telegram, telephone
        or
        in such other manner as may be approved by the Special Committee.  The
        person or persons authorized to call special meetings may fix the place and
        time
        of the meetings.

       

      (c)           Any
        Member may waive notice of a meeting as to himself or
        herself.  Attendance of a Member at a meeting shall constitute a
        waiver of notice of such meeting, except when the Member attends a meeting
        for
        the express purpose of objecting at the beginning of the 

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

       

      
        
          	 meeting
                  to the transaction of any business because the meeting was not
                  properly
                  called or convened.  A meeting may be held at any time without
                  notice if all Members are present or if those not present waive
                  notice of
                  the meeting in accordance herewith.

        

      

       

      (d)           At
        all meetings of the Special Committee the presence of at least a majority
        of the
        Members then in office shall be necessary and sufficient to constitute a
        quorum
        for the transaction of business.  Each Member shall have one (1) vote
        in respect of any vote on any decision of the Special
        Committee.  Except as otherwise specifically provided in this
        Agreement, all decisions to be made or actions to be taken by the Special
        Committee shall require the approval of a majority of all Members then in
        office.  If a quorum shall not be present at any meeting of the
        Special Committee, the Members present may adjourn the meeting from time
        to
        time, without notice other than announcement at the meeting, until a quorum
        shall be present.

       

      (e)           All
        Members shall have the right to attend and participate directly in all Special
        Committee meetings.  A Member may attend a meeting by telephone or
        other communications equipment.  Participation in a meeting by
        telephone or other communications equipment shall constitute presence in
        person
        at that meeting.

       

      (f)           The
        minutes of each meeting will be taken by a designated Member of the Special
        Committee or another individual designated by the Chairman or the Special
        Committee, who shall serve as secretary (“Secretary”) of the
        meeting.  The minutes shall indicate the date and location of the
        meeting, the mode of convocation, the proposed agenda, the Members (and any
        others invited) present, the presence of a quorum, the documents and reports
        submitted for review, a summary of the meeting, the text of any resolutions
        submitted for review and approval, and the results of each vote, unless
        otherwise determined by the Special Committee.  The minutes shall be
        signed by the Chairman and Secretary or as otherwise determined by the Special
        Committee.  If a quorum is not present, the meeting cannot proceed and
        minutes to this effect shall be prepared, unless otherwise determined by
        the
        Special Committee.

       

      (g)           Each
        meeting of the Special Committee shall be presided over by the Chairman or,
        in
        his/her absence, by another Member elected from among the Members
        present.

       

      (h)           Any
        action required or permitted to be taken at any meeting of the Special Committee
        may be taken without a meeting if a majority of all Members (or such higher
        percentage as provided in this Agreement) consent in writing.  Any
        action approved by written consent shall be filed with the minutes of the
        proceedings of the Special Committee.

       

      (i)           The
        Chairman may from time to time invite others to attend or participate in
        certain
        portions of Special Committee meetings whose participation is deemed useful
        to
        issues under consideration by the Special Committee; provided, these individuals
        may participate only in the relevant portions of the meetings of the Special
        Committee and shall not be present while the Special Committee members
        vote.

       

      (j)           The
        Company shall have the right to appear before and be heard by the Special
        Committee upon advance written request of the Company.

       

      (k)           Any
        actions, decisions or other determinations or reports of the Special Committee
        may be made public by the Special Committee, if it so determines, including,
        if

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

       

      
        	 requested
                by the Special Committee, on the editorial pages of all print, electronic
                and other  editions of The Wall Street Journal, subject
                to the approval of the editorial page editor or, if for any reason
                such
                approval is not granted with respect to any such edition of The Wall
                Street Journal, in a prominent location in such edition of The
                Wall Street Journal).

      

       

      1.4           Roles
        and Responsibilities of the Special Committee.

       

      (a)           The
        Company and Dow Jones agree that the Special Committee shall have rights
        of
        approval over each of the Special Committee Matters (as defined
        below).  Any decision made by the Special Committee with respect to
        any of the Special Committee Matters or any other matter on which the Special
        Committee is entitled to make a decision or determination pursuant to this
        Agreement shall be final and binding.

       

      (b)           For
        purposes of this Agreement, the “Editors” shall mean each of (i) the managing
        editor of The Wall Street Journal, (ii) the editorial page editor of
The Wall Street Journal, and (iii) unless he or she reports to the
        managing editor of The Wall Street Journal, the managing editor of Dow
        Jones Newswires.  References to “The Wall Street Journal Publications”
shall be deemed to include (x) the print, online, video and other publications,
        within and outside the U.S., of The Wall Street Journal or wsj.com or
        any successors to any of the foregoing, and (y) any other print, online,
        video
        or other form of distribution or publication, within and outside the U.S.,
        under
The Wall Street Journal, wsj.com or any derivative brand names, in the
        case of this clause (y), that (A) are under the control or direction of the
        managing editor of The Wall Street Journal, the editorial page editor
        of The Wall Street Journal or the publisher of The Wall Street
        Journal or (B) use journalists or editors, or content written or produced
        by, or otherwise involving, journalists or editors, who, directly or indirectly,
        report to, or are under the supervision of, the managing editor of The Wall
        Street Journal, the editorial page editor of The Wall Street
        Journal or the publisher of The Wall Street Journal, but, in the
        case of this clause (B), only to the extent of such use.  References
        to “Dow Jones Newswires Publications” shall be deemed to include print, wire
        services online, video and any and all other forms of distribution and
        publication (within and outside the U.S.) under the “Dow Jones Newswires” and
        derivative brand names and any successor to any of the foregoing, in each
        case
        that (A) are under the control or direction of the managing editor of Dow
        Jones
        Newswires or (B) use journalists or editors, or content written or produced
        by,
        or otherwise involving, journalists or editors, who, directly or indirectly,
        report to, or are under the supervision of, the managing editor of Dow Jones
        Newswires, but, in the case of this clause (B), only to the extent of such
        use.

       

      (c)           For
        purposes of this Agreement, “Special Committee Matters” shall mean the
        following:

       

      (i)           Appointment
        and removal of each of the Editors (including any material changes in the
        terms
        and conditions of employment of each such Editor that could give rise to
        constructive termination, such as a material reduction in compensation,
        relocation of principal place of employment, material change in duties or
        responsibilities and the like); and

       

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      (ii)           Changes
        to the authority, reporting relationship and consultation rights (as outlined
        in
        subparagraphs (A) through (F) below) of any of the Editors;

       

      (A)           The
        authority of each of the Editors will include:

       

      (1)           the
        power to hire and remove subordinates (including any material changes in
        the
        terms and conditions of employment of any such subordinate that could give
        rise
        to constructive termination, such as a material reduction in compensation,
        relocation of principal place of employment, material change in duties,
        responsibilities or position and the like) within their respective publications
        and operations, in each case consistent with departmental budgets set by
        the
        Company or Dow Jones management following discussion with the relevant Editor;
        the decisions of the Company or Dow Jones on departmental budgets will be
        final,
        and

       

      (2)           control
        over spending and allocation of resources within departmental budgets set
        by the
        Company or Dow Jones management following discussion with the relevant Editor;
        the decisions of the Company or Dow Jones on departmental budgets will be
        final,

       

      (B)           in
        the case of the managing editor of The Wall Street Journal, and, so
        long as he or she is an Editor, the managing editor of Dow Jones Newswires
        (or
        any successor of the foregoing), authority over:

       

      (1)           all
        news decisions with respect to The Wall Street Journal Publications and Dow
        Jones Newswires Publications, as applicable (including decisions on subjects
        of
        news coverage, length, placement and accompanying art or other media),
        and

       

      (2)           use
        of staff of The Wall Street Journal Publications and Dow Jones Newswires
        Publications, as applicable, by advertisers or other businesses, publications
        or
        services;

       

      (C)           the
        managing editor of The Wall Street Journal shall continue to report to
        the publisher of The Wall Street Journal,

       

      (D)           the
        managing editor of The Wall Street Journal shall be consulted prior to
        the use of The Wall Street Journal or Dow Jones brand names by the
        Company, its Affiliates or any other party to provide the managing editor
        the
        opportunity to raise any objections to and suggestions concerning the proposed
        use of the brand; provided that the decisions of the Company on
        branding matters will be final;

       

      (E)           in
        the case of The Wall Street Journal editorial page editor:

       

      (1)           authority
        to choose the editorial board members, the opinion columnists, the op-ed
        section
        editor and the editors of the book review, the Leisure & Arts section,
        OpinionJournal.com and the Far Eastern Economic 

       

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

       

      
        
          	 Review
                  of The Wall Street Journal Publications and the use of the staff
                  of any of
                  the foregoing by advertisers or other businesses, publications
                  or
                  services;

        

      

       

      (2)           final
        determination over the positions taken by the editorial pages of The Wall
        Street
        Journal Publications; and

       

      (3)           authority
        over the selection of op-ed pieces for The Wall Street Journal Publications;
        and

       

      (F)           The
        Wall Street Journal editorial page editor shall continue to report
        to The Wall Street Journal publisher.

       

      1.5           Arbitrating
        and Resolving Disputes.

       

      Each
        Editor shall have the right to appeal disputes with the Company, Dow Jones
        or
        their respective Affiliates concerning (i) the Special Committee Matters,
        and
        (ii) the matters set forth in Sections 2.1(e) and 2.1(f) (but only to the
        extent
        any such dispute relates to Dow Jones, any of its subsidiaries, a Dow Jones
        Publication (as defined in Section 2.1(f)) or to journalists or journalism
        of
        Dow Jones or its subsidiaries or a Dow Jones Publication), to the Special
        Committee for resolution, and the Special Committee shall seek to resolve
        such
        disputes in a prompt manner. All decisions and determinations made by the
        Special Committee with respect to any such dispute shall be final and
        binding.

       

      1.6           No
        Modification.

       

      (a)           The
        authority of the Special Committee shall be limited to the approval rights,
        dispute resolution and other matters set forth in this Agreement.  The
        Special Committee shall have no separate role in managing the business of
        Dow
        Jones.  Any changes to the Special Committee Matters or the powers,
        responsibilities and authority of the Special Committee as set forth in this
        Agreement shall require the approval of at least eighty percent (80%) the
        Members of the Special Committee then in office and the Company.

       

      ARTICLE
        II

       

      THE
        COMPANY

       

      2.1           Representations,
        Warranties and Agreements of the Company and Dow
        Jones.

       

      The
        Company and Dow Jones, jointly and severally, hereby acknowledge, represent
        and
        warrant to, and agree with, the Special Committee as follows:

       

      (a)           This
        Agreement has been duly and validly authorized, executed and delivered by
        each
        of the Company and Dow Jones and constitutes a legal, valid and binding
        obligation of the Company and Dow Jones, enforceable against such parties
        in
        accordance with its terms;

       

      (b)           The
        Company and Dow Jones agree to retain in their positions following the closing
        of transactions contemplated by the Merger Agreement the persons set forth
        on
        Schedule B (the “Covered Employees”) unless and until removed in accordance with
        this Agreement;

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      (c)           The
        Company and Dow Jones shall promptly provide the Special Committee and its
        Members with adequate funding as from time to time requested by the Special
        Committee Members to carry out its duties and responsibilities, including
        investigations and enforcement as provided in this Agreement;

       

      (d)           The
        Company shall maintain, at no expense to the beneficiaries, insurance covering
        the Members that is similar in scope and quality to the directors’ and officers’
liability insurance and fiduciary liability insurance maintained by the Company
        for the benefit of its directors and officers;

       

      (e)           The
        Company has adopted and shall maintain a set of principles aimed at ensuring
        the
        preservation of the integrity, editorial independence and freedom from bias
        of
        its  publications and newsgathering services and the Dow Jones
        Publications (as defined below).  These principles will ensure that in
        all publications and news gathering services of the Company and the Dow Jones
        Publications:

       

      (i)           facts
        are accurate and fairly presented;

       

      (ii)           analyses
        represent the publications’ best independent judgments rather than their
        preferences, or those of their owner, sources, advertisers or information
        providers;

       

      (iii)           opinions
        represent only the applicable publication’s own editorial philosophies centered
        around the core principle of  “free people and free
        markets”;

       

      (iv)           there
        are no hidden agendas in any journalistic undertakings; and

       

      (v)           accuracy
        and fairness extends to coverage of any real or perceived business interests
        of
        the Company or its Affiliates; and

       

      (f)           The
        Company’s principles set forth in Section 2.1(e) shall apply, and the Dow Jones
        Code of Conduct relating to appropriate professional conduct, as amended
        January
        21, 2004 (the “Code of Conduct”), shall continue to apply, following the closing
        of the merger contemplated by the Merger Agreement, to Dow Jones, its
        subsidiaries, The Wall Street Journal, wsj.com, Dow Jones Newswires and
        any other publications or services, whether print, online, video or otherwise
        and whether within or outside the U.S. (including any successors thereto
        or any
        derivatives therefrom) that are publications or services of Dow Jones or
        any of
        its subsidiaries as of the date of this Agreement or use the Dow Jones brand
        name or any brand name of any of the foregoing publications or services,
        whether
        print, online, video or otherwise and whether within or outside the U.S.
        (collectively, “Dow Jones Publications”) and to all journalists and journalism
        of Dow Jones and its subsidiaries or the Dow Jones Publications.  The
        Special Committee shall aid the preservation and promotion of the Company’s
        principles set forth in Section 2.1(e) and the Code of Conduct.

       

      (g)           The
        foregoing representations, warranties and agreements shall survive the date
        of
        this Agreement.

       

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        III

       

      MEMBERS

       

      3.1           Powers
        of Execution.

       

      (a)           All
        agreements and other instruments and any reports or statements issued by
        the
        Special Committee shall be signed on behalf of the Special Committee by the
        Chairman or by those other person or persons as the Special Committee may
        from
        time to time designate.

       

      3.2           Compensation;
        Expenses; Support of the Members.

       

      (a)           The
        Company shall pay each Member reasonable compensation for his or her services
        as
        a Member of the Special Committee.  The initial compensation payable
        to each Member shall be $100,000 per year, one-fourth of which shall be payable
        quarterly.  The foregoing compensation amounts may be reasonably
        adjusted by the Special Committee, subject to the approval of the Company
        (not
        to be unreasonably withheld or delayed).  In addition, the Company
        shall reimburse each Member for reasonable out of pocket, documented travel,
        accommodation and other expenses incurred by any Member attending any meeting
        of
        the Special Committee or otherwise discharging his or her duties
        hereunder.

       

      3.3           Performance
        of Duties; Access to Information and Advisors.

       

      (a)           In
        fulfilling its responsibilities, the Special Committee shall have full access
        to
        all books, records, facilities and personnel of the Company, Dow Jones and
        their
        respective  Affiliates as the Special Committee may reasonably request
        to fulfill its duties.  The Special Committee and its Members shall
        have the right to liaise with the office of the managing editor of The Wall
        Street Journal to obtain, and the office of the managing editor of The
        Wall Street Journal shall take all action that is reasonably necessary or
        appropriate to provide, such access.

       

      (b)           The
        Special Committee (including each of its Members, any individual designated
        as
        Secretary in accordance with Section 1.3(f) and any other permitted designee)
        shall have the right to rely on the office of the managing editor of The
        Wall Street Journal to obtain administrative support, including in
        connection with travel, accommodations, meeting logistics, expense reimbursement
        and other similar administrative services; provided that the Special Committee
        may, in its sole discretion, elect to make other arrangements available to
        the
        Members for support in carrying out the Special Committee’s functions under this
        Agreement either in lieu of or in addition to the foregoing.

       

      (c)           In
        performing his or her duties, each of the Members will be entitled to rely
        in
        good faith on the provisions of this Agreement and on information, opinions,
        reports, or statements, of the following other persons or groups: (i) one
        or
        more officers or employees of the Company or its subsidiaries; (ii) any
        attorney, independent accountant, or other person employed or engaged by
        the
        Company, Dow Jones or their respective Affiliates; or (iii) any other person
        who
        has been selected with reasonable care by or on behalf of the Special Committee,
        Company, Dow Jones or their respective Affiliates, in each case as to matters
        that such relying Member reasonably believes to be within such person’s
        professional or expert competence.

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      (d)           The
        Special Committee shall have the authority to retain legal, accounting and
        other
        advisors and investigators as the Special Committee determines, in its good
        faith judgment, to be necessary or appropriate in connection with performing
        its
        duties and responsibilities, or exercising its rights, as applicable, under
        Sections 1.2(c), 1.2(d), 1.2(f), 1.4(c)(i), 1.5 and 4.8 of this Agreement,
        and
        the Company shall be responsible for paying the reasonable fees and expenses
        of
        any such persons.  Each of the Members will be entitled to rely in
        good faith on any person or group so retained as to matters that such relying
        Member reasonably believes to be within such person’s professional or expert
        competence.

       

      3.4           Liability;
        Indemnification of Members.

       

      (a)           No
        Member will be personally liable under any judgment of a court, or in any
        other
        manner, for any debt, obligation, or liability of the Company, Dow Jones
        or any
        of their respective Affiliates, whether that liability or obligation arises
        in
        contract, tort, or otherwise, by reason of being a Member.

       

      (b)           The
        Members will not be liable, responsible or accountable for damages or otherwise
        to the Company, Dow Jones, their respective Affiliates or their respective
        officers, directors, employees, stockholders or to the other
        Members.  Each Member is hereby indemnified and held harmless by the
        Company and Dow Jones from and against all claims, liabilities, and expenses
        whatsoever (including advancement of reasonable attorneys’ fees and other
        expenses) arising out of or based upon the fact that such Member is or was
        a
        Member of the Special Committee, or is or was serving or has agreed to serve
        at
        the request of the Company in any other capacity, or in connection with any
        decision made by the Special Committee, except, in each case, to the extent
        of
        any such Member’s willful misconduct as determined by a final, nonappealable
        order of a court of competent jurisdiction.

       

      ARTICLE
        IV

      
MISCELLANEOUS
        PROVISIONS

       

      4.1           Notices.

       

      All
        notices, requests, claims, demands and other communications under this Agreement
        shall be in writing (and also made orally if so required pursuant to any
        Section
        of the Agreement) and shall be deemed given if delivered personally, mailed
        by
        registered or certified mail (return receipt requested) or delivered by express
        or overnight courier (providing proof of delivery) to the parties or sent
        by
        telecopy (providing confirmation of transmission) at the following addresses
        or
        telecopy numbers:

       

      If
        to the
        Company, to:

      

      
        	 	
                News
                  Corporation

                1211
                  Avenue of the Americas

                New
                  York, New York 10036

                Fax:  212-768-9896

                Attention:
                  General Counsel

              

      

       

      
 

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      with
        copies (which shall not constitute notice) to:

      

      

      If
        to Dow
        Jones, to:

      

      
        	 	
                Dow
                  Jones & Co., Inc.

                1
                  World Financial Center

                200
                  Liberty Street

                New
                  York, New York 10281

                Fax:
                  212-732-8356

                Attention:
                  General Counsel

              

      

      

      with
        copies (which shall not constitute notice) to:

      

       

      If
        to the
        Special Committee, to:

      

      
        	 	
                [NAME]

                [ADDRESS]

                [ADDRESS]

                Fax:

                Attention:

              

      

       

      with
        copies (which shall not constitute notice) to:

      

      If
        to the
        Members of Special Committee, to the addresses for such Members provided
        by the
        Members to the Company (which shall be modified from time to time to reflect
        changes to the composition of the Special Committee);

      

      or
        to any
        other persons or addresses as may be designated in writing by the person
        to
        receive this notice as provided above.  Any notice, request,
        instruction or other document given as provided above shall be deemed given
        to
        the receiving party upon actual receipt, if delivered personally; on the
        next
        business day after deposit with an internationally recognized overnight courier,
        if sent by such a courier; three (3) business days after deposit in the
        mail, if sent by registered or certified mail; or upon confirmation of
        successful transmission if sent by facsimile.  The foregoing notice
        provisions shall not apply to notices to the Members of meetings of the Special Committee,
        which shall be governed by Section 1.3 above.

       

      4.2           Governing
        Law.

       

      All
        issues and questions concerning the application, construction, validity,
        interpretation and enforcement of this Agreement and the Schedules to this
        Agreement will be governed by, and construed in accordance with, the laws
        of the
        State of New York, without giving effect to any choice of law or conflict
        of law
        rules or provisions (whether of the State of New York or any 

       

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

       

      
        	 other
                jurisdiction) that would cause the application of the laws of any
                jurisdiction other than the State of New
                York.

      

       

      4.3           Interpretation;
        Headings and Sections.

       

      (a)           Defined
        terms used in this Agreement in the singular will include the plural and
        vice
        versa.  Whenever the words “include,” “includes” or “including” are
        used in this Agreement, they are deemed to be followed by the words “without
        limitation.”  Where the context so indicates, the masculine will
        include the feminine, the neuter will include the masculine and
        feminine.

       

      (b)           The
        headings in this Agreement are inserted for convenience only and are in no
        way
        intended to describe, interpret, define, or limit the scope, extent or intent
        of
        this Agreement or any provision of this Agreement.  Unless the context
        requires otherwise, all references in this Agreement to Sections, Articles,
        or
        Schedules will be deemed to mean and refer to Sections, Articles, Schedules
        of
        or to this Agreement.

       

      4.4           Amendment
        and Waiver.

       

      No
        modification, amendment or waiver of any provision of the this Agreement
        will be
        effective against any party unless such modification, amendment or waiver
        is
        approved in writing by, in the case of an amendment, each party to this
        Agreement or, in the case of a waiver, by each party against whom the waiver
        is
        to be effective.  No amendment or waiver shall be effective against
        the Special Committee unless it has been approved in writing by at least
        eighty
        percent (80%) of the Members of the Special Committee then in office and
        the
        Company.  The failure of any party to enforce any of the provisions of
        this Agreement will in no way be construed as a waiver of these provisions
        and
        will not affect the right of such party thereafter to enforce each and every
        provision of this Agreement in accordance with its terms.

       

      4.5           Assignment;
        Third Party Beneficiaries.

       

      (a)           Neither
        this Agreement nor any of the rights, interests or obligations under this
        Agreement shall be assigned or delegated, in whole or in part, by operation
        of
        law or otherwise by any of the parties without the prior written consent
        of the
        other parties.  Any purported assignment in violation of this
        Agreement will be void ab initio.  This Agreement will be binding
        upon, inure to the benefit of, any corporate or other successor or assignee
        of
        the Company or Dow Jones and any person or entity, including any Affiliate
        of
        the Company or Dow Jones, that may acquire, directly or indirectly, by merger,
        consolidation, purchase, transfer or otherwise, in whole or in part, The
        Wall Street Journal, Dow Jones Newswires or any other Dow Jones
        Publication.  The Company and Dow Jones shall require, as a condition
        to any such succession, assignment or acquisition, that any such successor,
        assignee or acquirer expressly  agree (pursuant to an agreement in
        form and substance reasonably satisfactory to the Special Committee and its
        counsel) to assume, perform and be bound by this Agreement in the same manner
        and to the same extent as the Company and Dow Jones.

       

      (b)           The
        Company and Dow Jones agree and acknowledge that this Agreement is intended
        for
        the irrevocable benefit of, and to grant rights to, the Special Committee
        and
        its Members, Dow Jones and the Company.  This Agreement is not
        intended to and shall not confer 

       

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      
        
          	 any
                  rights or remedies hereunder to any person or entity, other than
                  the
                  Special Committee and its Members, the Company and Dow
                  Jones.

        

      

       

      4.6           Counterparts.

       

      This
        Agreement may be executed in multiple counterparts, each of which will be
        deemed
        to be an original and will be binding upon the other parties who execute
        the
        same, but all of such counterparts will constitute the same
        agreement.

       

      4.7           Severability.

       

      Whenever
        possible, each provision of this Agreement will be interpreted in such manner
        as
        to be effective and valid under applicable law, but if any provision of this
        Agreement is held to be prohibited by or invalid under applicable law, such
        provision will be ineffective only to the extent of such prohibition or
        invalidity, without invalidating the remainder of this Agreement.

       

      4.8           Remedies.

       

      The
        Special Committee will be entitled to enforce its rights and the terms of,
        and
        any decisions or determinations made under, this Agreement against the Company
        or Dow Jones, as the case may be.  Each of the Company and Dow Jones
        will be entitled to enforce its rights and the terms of this Agreement against
        the Special Committee, but shall in no event be entitled to recover damages
        from
        the Special Committee or its Members. The Special Committee will be entitled
        to
        recover actual damages and actual, documented costs (including reasonable
        attorney’s fees) caused by any breach by the Company or Dow Jones of any
        provision, or any decision or determination made  by the Special
        Committee under this Agreement and to exercise all other rights existing
        in its
        favor.  The parties agree and acknowledge that money damages will not
        be an adequate remedy for any breach by any party of the provisions of, or
        any
        decision or determination made under, this Agreement and that any party may
        in
        its sole discretion apply to any court of law or equity of competent
        jurisdiction (without posting any bond or deposit) for specific performance
        and/or other injunctive relief in order to enforce or prevent any violations
        by
        any party of the provisions of this Agreement, or any decision or determination
        made under this Agreement.

       

      4.9           No
        Strict Construction.

       

      The
        parties to this Agreement have participated jointly in the negotiation and
        drafting of this Agreement.  In the event an ambiguity or question of
        intent or interpretation arises, this Agreement will be construed as if drafted
        jointly by the parties to this Agreement, and no presumption or burden of
        proof
        will arise favoring or disfavoring any party by virtue of the authorship
        of any
        of the provisions of this Agreement.

       

      4.10           Entire
        Agreement.

       

      Except
        as
        otherwise expressly set forth in this Agreement, this Agreement embodies
        the
        complete agreement and understanding among the parties to this Agreement
        with
        respect to the subject matter of this Agreement and supersedes and preempts
        any
        prior understandings, agreements or representations by or among the parties,
        written or oral, that may have related to 

       

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      
        
          	 the
                  subject matter of this Agreement in any way.  This Agreement
                  will be deemed effective on the date of this Agreement upon the
                  execution
                  of this Agreement.

        

      

       

      4.11           Submission
        to Jurisdiction.

       

      ANY
        AND
        ALL SUITS, LEGAL ACTIONS OR PROCEEDINGS ARISING OUT OF THIS AGREEMENT WILL
        BE
        BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES DISTRICT
        COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND EACH PARTY TO THIS AGREEMENT
        HEREBY SUBMITS TO AND ACCEPTS THE EXCLUSIVE JURISDICTION OF SUCH COURTS FOR
        THE
        PURPOSE OF SUCH SUITS, LEGAL ACTIONS OR PROCEEDINGS.  IN ANY SUCH
        SUIT, LEGAL ACTION OR PROCEEDING, EACH PARTY TO THIS AGREEMENT WAIVES PERSONAL
        SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS AND AGREES THAT SERVICE
        THEREOF MAY BE MADE BY ANY MEANS PROVIDED IN SECTION 4.1.  TO THE
        FULLEST EXTENT PERMITTED BY LAW, EACH PARTY TO THIS AGREEMENT HEREBY IRREVOCABLY
        WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE
        OR
        ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING IN ANY SUCH COURT AND HEREBY FURTHER
        WAIVES ANY CLAIM THAT ANY SUIT, LEGAL ACTION OR PROCEEDING BROUGHT IN ANY
        SUCH
        COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

       

      4.12           Waiver
        of Jury Trial.

       

      EACH
        PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
        LAW,
        ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION
        (A)
        ARISING UNDER THIS AGREEMENT OR (B) IN ANY WAY CONNECTED WITH OR RELATED
        OR
        INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT
        OR
        ANY OF THE MATTERS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR
        HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR
        OTHERWISE.  EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS
        THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION WILL BE DECIDED BY
        COURT
        TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL
        COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE
        OF
        THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
        JURY

       

      *     *     *     *     *

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
      first written above.

     

    
       

      
        
          	
                	
                  NEWS
                    CORPORATION

                	 
	 	 	 	 
	 	 	 	 
	
                   

                	
                  By:
                    

                	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

        

         

        
           

          
            	
                  	
                    DOW
                      JONES
                      & COMPANY, INC.

                  	 
	 	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
                      

                  	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

          

           

        

        
           

          
            	
                  	
                    THE
                      SPECIAL
                      COMMITTEE

                  	 
	 	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
                      

                  	 	 
	 	 	Name:	 
	 	 	Title:
                    Member

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