The saga of Rupert Murdoch's courtship of the Wall Street Journal has excited the media but most of the paper's readers and the public have already tacitly approved the sale. There are no screams of protest or cries that the freedom of the press is being undermined. There are a few reasons for this:
- Ownership is moot to the average reader. As long as the paper continues to be a credible source of business information, we generally don't care who owns and publishes it.
- Business news is everywhere. If the paper stops becoming a credible source, there are plenty of other places to go.
- Rupert Murdoch is a pretty shrewd businessman. So why shouldn't he own one of the largest business publications. Is anyone better qualified?
- Everyone has a bias. Sure Murdoch will bring his personal biases into the paper but doesn't everyone associated with the paper bring their bias?
- People like what Murdoch has done with Fox News. Love him or hate him, he's created an entertaining channel that provides a counterweight to the perceived liberal bias of the other news shows.
- He's Web-hip. Murdoch owns MySpace, and the public realizes that he understands the importance of technology, and can help the Wall Street Journal navigate its increasingly digital future.
So, don't expect to see lots of protest as this deal closes. A true businessman has bought a media company that reports on business. Is there anything more appropriate?
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Related Articles:
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Wharton Analysis of Murdoch's Courting of Dow Jones by PhilR - Jun 22, 2007
Dow Jones and Rupert Murdoch Agree on Editorial Protections by soczie - Jun 26, 2007.


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