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Ear to the Ground

Murdoch Nearing Dow Jones Deal?

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Posted on Jul 6, 2007

A weekly British business magazine, appropriately named The Business, reported Friday that media tycoon Rupert Murdoch had successfully added Dow Jones & Co. Inc. to his News Corp. empire, but other sources insist the deal is not yet sealed.


Editor & Publisher:

The Business report said that sources acting for the Dow Jones board said that negotiations on the deal have been completed and that the board is confident it will be accepted by the Bancroft family, which has a majority stake in Dow Jones, over the next few days.

The report, written by Andrew Neil, a former Murdoch lieutenant and the chief executive of Press Holdings Media Group, which owns The Business, said that the deal was delayed until agreement was reached on a legally enforceable undertaking by Murdoch to “preserve the Wall Street Journal’s editorial independence.”

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By Joseph Conrad, July 7, 2007 at 3:56 pm #
(Unregistered commenter)

Americans need to get on the ball and protect their ‘institutions’ from scavengers in any and every form. Murdoch is a scavenger. He’s as much a newspaperman as Mr. Bush, Jr. is a president of quality. If Murdoch’s efforts reach fruition, I suggest we who can ‘READ’ switch to Barrons!
The WSJ will become birdcage liner as the SMART reporters for it will leave for venues where others can read…

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By DennisD, July 7, 2007 at 3:09 pm #
(Unregistered commenter)

I guess the antitrust laws are as meaningless as every other law under Gonzo & Bu$h. Robber barons move over, Rupert’s taking over.

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By THOMAS BILLIS, July 7, 2007 at 8:43 am #
(Unregistered commenter)

Rupert Murdoch will retain the integrity of the Wall Street Jounal and George Bush will read a book without pictures.

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By johnofportland, July 6, 2007 at 6:17 pm #

Is there anyway to legally block the sale?

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By Hank Van den Berg, July 6, 2007 at 3:28 pm #
(Unregistered commenter)

After reading the analysis of the negotiated editorial independence pact between News Corp. and the Wall Street Journal, one simple statement in the pact cuts to the chase: “News Corp’s decision over budgets would be final.”  Nothing else in the analysis that I read really matters very much.

I must admit that my experience is in academia, where professors and administrators have tenure and there is a strong tradition of free speech, independence, and scientific research.  Despite tenure and tradition, however, faculty independence is being systematically eroded.  For example, at my university, more and more faculty positions are directly linked to outside funding, professors’ performance reviews increasingly emphasize efforts to obtain outside grants and funding, and administrators have greatly expanded their power to arbitrarily allocate funds within the university.  Studies that have systematically examined the links between outside funding and research conclusions show that the push to sell research to outside groups indeed seriously biases research in favor of what the funders’ interests (duh!).  And no serious person would argue that administrators’ power over the purse does not influence what is taught in the classroom.  Tenure has not protected anyone from biases in promotion, salaries, and the sharing of teaching loads, all of which have become very political at my university.
 
If we can see the degree to which administrative control of budgets and the increased emphasis on wooing outside funders has biased research in even our “protected” academic environment, there is no doubt that abstract rules and lofty principles will fail to stop News Corp. from influencing the Wall Street Journal’s editorial content in what is effectively a commercial enterprise.  The only way to protect the Wall Street Journal’s independence is to keep it independent!  Perhaps the editorial page of the Wall Street Journal should finally admit that there really are very good reasons for anti-trust laws.

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By Chaseme, July 6, 2007 at 3:05 pm #
(Unregistered commenter)

Remember the demand Moses made to Pharaoh, “Pharaoh, let my people go!”

I will make this request; My people, let this Pharaoh go! Yet, we focus on death and destruction, violence and copruption. What have we bought into? What will it cost to buy us out?

We don’t need more fake news. We don’t need more lying news crews.

My people, let this Pharaoh go!

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By ocjim, July 6, 2007 at 12:51 pm #

The WSJ will be Rupert’s. It will be another Rupert Ravage. He thinks that the prestige of it will improve his yellow journalism lineage. In stark contrast to his mediocre possessions, the WSJ has won 33 Pulitzer Prizes. Never again will have pride in that publication. In spite of what Rupert says, he will ravage it. History of his publications tell the story of bias, crassness, and gutter-sniping.

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