In the memo, which comes after the Dow board's late-night decision to approve a tentative deal, Richard Zannino assured staff of their editorial independence, stating News Corp. has agreed to “a structure that preserves the editorial integrity of our newspapers.” He also stated the board recommended the merger “not because this company's future is not bright, but because our prospects might be even brighter in combination with the businesses of News Corp.”

Although he could not share the details of “everything that went on in the boardroom,” Zannino wrote that “the board's view is that News Corp. brings the most value to Dow Jones and its shareholders.”

The Bancroft family, which controls a majority of the voting shares in Dow Jones, will meet in Boston next week to be presented with details of News Corp.'s bid. They will then have a week to decide how they will vote.

Zannino is the first non-journalist to run Dow Jones since the 1930s, which has caused criticism among staff that he is less interested in editorial independence than he says. Staff have continued to express concern over the issue.