August 01, 2007
The Dow Jones Deal: View From The Inside
Media mogul Rupert Murdoch's successful Dow Jones/Wall Street Journal takeover has generated considerable anxiety about whether the owner of FOX News and scores of tabloids will respect and preserve the Journal's integrity. The New York Times (subscription), Financial Times (subscription) and Slate, among others, questioned the wisdom of the deal as it developed.
The Journal's editorial page today suggested that such concerns were merely "crocodile tears" shed by competitors out to undermine the venerable newspaper. But outsiders are not the only ones bemoaning the deal; to find the most passionate dissenters one needs look no further than the Journal itself.
Today's WSJ article on the buyout details in dramatic fashion the tortuous negotiations between Murdoch and the Bancroft family, who have owned the paper for a century and have expressed concerns that Murdoch would "import the brand of sensationalist journalism found in some of his properties such as the New York Post."
Continue reading "The Dow Jones Deal: View From The Inside"
Posted at 5:00 PM
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Dow Jones & Co., Rupert Murdoch
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