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REGION: North America
TOPIC: Media
Online NewsHour
FORUM
Posted: August 6, 2007

Murdoch Bid on Dow Jones Advances

Forum Introduction
Wall Street Journal Rupert Murdoch's News Corp. got the go-ahead to purchase the Dow Jones & Co., including its crown jewel the Wall Street Journal, for $5 billion. Experts answered your questions about the impact on the media.
QUESTIONS
What are the concerns when a major media company owns the majority of financial news outlets?
Will the investigating and reporting staff be shaken up?
How will the deal affect the accuracy and balance of Barron's?
Are other newspaper families following the Bancroft family's lead and selling their papers?
Can the editorial board of the Wall Street Journal maintain independence?
Will the Wall Street Journal's focus shift toward Asia?
What can we learn from Rupert Murdoch's past acquisitions?
Robin of Tempe, Ariz., asks:
I lived in London when Murdoch bought The Times of London. People were very upset. I moved soon after and don't recall how much he meddled with the news organization. Can we learn anything from his past media acquisitions?
ANSWERS
Andrew Leckey of Arizona State University responds:

At The Times, Britain's paper of record, Murdoch upgraded its printing technology and made the operation function more efficiently. However, he also selected the top editor and included more celebrity coverage, which long-time readers considered somewhat low-brow. There have been some accusations of him getting involved in coverage of a few news events for political reasons. It has also been noted Murdoch was fond of Tony Blair and this showed in coverage, though the history of the paper had been quite conservative. He usually tries to go for the broadest readership, viewership and profits possible and does whatever it takes to capture them.

He has already said he wants more political and general coverage in the Journal, no doubt to broaden its appeal, circulation and influence. He said he thinks some articles are too long. He has also said the press is too negative about business at times. All this has been read and heard by all Dow Jones employs and is certain to, in some ways, filter down into the publication whether he actually orders it or not.

The Journal has tried a weekend edition, which Murdoch believes he could do more with. The paper has been trying to change, be more colorful, more in step with the times while also trying to be more cost-efficient in its operations. Not an easy task. It would have continued to change even under current ownership. This is a time of transition in newspapers and none are untouched. Expect be an uneasy time for readers and journalists who must adapt to change that will often occur in unexpected ways.

Arlene Morgan of Columbia Journalism School responds:

He did not buy Dow Jones and the Journal to sit on the sidelines. He has never sat on the sidelines with any other purchase so it is inconceivable why anyone would expect him to do that now.

I can only judge his news judgment by reading the New York Post. I give the paper good marks for its business, sports, gossip and celebrity coverage but little else. I have not seen that paper champion reporting on minority or women's issues. If anything, I feel the paper sensationalizes stories about crime, race and women. I do not expect to see woman in bikinis on the front of the Journal, but I do worry about stories regarding topics like equality, immigration, and racial discrimination getting the same level of attention as they do now.


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