one that was taken after theultation,, engaging leadership of the ft as well and unmistakably reaching this conclusion that this is a time when journalism is being , and myt and reinvented job was to get ft the best crack. francine: the final contract with nikkei, you preserve -- i don't know if you get lawyers thelved but you reserve independence of the ft? john: my view is that what is most important is to find the right owner. you judge the right owner in terms of the culture, the values, the leadership and the track record. acknowledgedd hav pearson has been a good owner of the financial times. there is not a word set down anywhere. there is no governance. there is no structure. when i took over from a predecessor there was no document that says it is there because it is an the culture. the we were thinking about best future owner of the ft, that was the way that we approached it. you can put in place any sort of document or constitutional arrangement but frankly i think culture matters more. i do think there is that real commitment to editorial independence. i think they value the