Murdoch Waits on Bancrofts

MEDIA
• Rupert Murdoch reaches a deal with Dow Jones and gives the Bancrofts three weeks to take it or leave it. [Reuters]
• Jeffrey Goldberg, The New Yorker's Washington correspondent, defected for a top role at The Atlantic. [WWD]
• Secret passageway from Sardi's to the Times building no longer a secret, or useful. [NYO]

FINANCE
• Hedge-fund fee structures are a big ripoff, and investors are starting to realize it. [NYer]
• Bill Gross, the manager of the world's largest bond fund, made not one but three Paris Hilton references in his gloomy investment outlook. [PIMCO via DealBreaker]
• The EEOC sued Merrill Lynch for allegedly discriminating against an Iranian Muslim analyst. [AP via NYT]

LAW
• Many lawyers are depressed and drink too much. But now they seek help. [Boston Globe via Law Blog/WSJ]
• Bingham McCuthen's latest ad is a bear holding a baby. This is not an improvement over its zebra-chasing-a-lion ad. [Copyranter]
• As much as they criticize them, most law schools won't boycott the U.S. News rankings. [National Law Journal]

FASHION
The Accessories Council has announced the recipients for the ACE awards this year, including Harper's Bazaar for Magazine of the Year. [WWD]
• Peter Som, Thakoon, Erin Fetherston, Jovovich-Hawk, and Marchesa will participate in Glamour's Fashion Gives Back benefit this year. [Fashion Week Daily]
• Is an E! True Hollywood Story: Project Runway in the works? We can only hope. [Fashionista]