This is a couple days old, but I'm just catching up on this.
Hapless former WSJ owners could yet sting Murdoch
Basically, Murdoch bought Dow Jones and the Wall Street Journal from the Bancroft family. The article says that included in the deal was the formation a special committee "to ensure the Wall Street Journal’s integrity".
This committee hasn't done much to date. However:
This time could be different. To the Bancrofts’ credit, the agreement requires News Corp to preserve the integrity not just of Dow Jones, but of all the company’s “publications and newsgathering services.” Arguably, those principles have been violated at UK outlets.
And if the committee of five U.S. media grandees chooses, it can hire investigators, lawyers and accountants to conduct their own probe, with full access to News Corp’s books, records and people.
Unfortunately, that special committee may not have much more power except to publish their findings. But who knows what embarrassing things might be uncovered...
Though it may get crowded with all the investigating that is going to happen, what with the UK, the Congress, the FBI, etc