Left-wing media critics have long argued that corporate ownership of journalistic institutions was bad for the integrity of news bureaus for it placed undue pressure on journalists to not report critically on their corporate owners.

I have long dismissed this criticism, and still do. Leftists, like for most of their theories, do not offer evidence they just speculate and they are almost innately hostile to business.

But that does not mean corporate boards never apply pressure on their news divisions.

The New York Times recently reported that none other than PBS [government owned] newsman Charlie Rose presided over a summit between General Electric boss Jeffrey Immelt [GE owns MSNBC] and News Corporation boss Robert Murdoch [which owns Fox News] to get both corporate bosses to apply pressure on their respective networks to end a feud between MSNBC and Fox News that was hurting the image of both companies.

MSNBC’s left-wing host Keith Olbermann and Fox’s right-wing host Bill O-Reily have been attacking one another [in the case of the latter via indirect barbs] for years. Olbermann has also criticized Murdoch and O’Reily has returned the compliment by going after Olbermann’s top boss: GE.

The reconciliation — not acknowledged by the parties until now — showcased how a personal and commercial battle between two men could create real consequences for their parent corporations. A G.E. shareholders’ meeting, for instance, was overrun by critics of MSNBC (and one of Mr. O’Reilly’s producers) last April. . . .

In late 2007, Mr. O’Reilly had a young producer, Jesse Watters, ambush Mr. Immelt and ask about G.E.’s business in Iran, which is legal, and which includes sales of energy and medical technology. G.E. says it no longer does business in Iran.

Mr. O’Reilly continued to pour pressure on its corporate leaders, even saying on one program last year that “If my child were killed in Iraq, I would blame the likes of Jeffrey Immelt.” The resulting e-mail to G.E. from Mr. O’Reilly’s viewers was scathing. . .

Over time, G.E. and the News Corporation concluded that the fighting “wasn’t good for either parent,” said an NBC employee with direct knowledge of the situation. But the session hosted by Mr. Rose provided an opportunity for a reconciliation, sealed with a handshake between Mr. Immelt and Mr. Murdoch.

With the exception of once incident, since the June 1 meeting there has been no criticism of either side.

A GE spokesman defended this: “We all recognize that a certain level of civility needed to be introduced into the public discussion. We’re happy that has happened.”

They may be, but I doubt any viewer of Fox or MSNBC is so in the knowledge they are getting corporate-interest-filtered news.