Wednesday, August 01, 2007

Rupert wins, journalism loses

There's not a chance that the Wall Street Journal will remain independent of Rupert Murdoch's political, social and economic ambitions. He wants so very much, and the WSJ can do so very much to deliver what he wants.

It's a terrible day for journalism and, quite bluntly, for the United States. The Wall Street Journal is one of the best, if not the best, business publication in the country. Is there any other publication that can step into the void that Rupert Murdoch is creating? Who is the watchdog now? As corporations and their executives grow increasingly arrogant and continue to increase their own power, we need more information about what is happening and what we can do about it. Rupert Murdoch's takeover of the Wall Street Journal means we will know less about what the worst of big business is doing to us.

1 comment:

goofticket said...

Rupert has some serious problems with the deal.

There is a contract, that cannot be broken and Rupert had to accept.
The WSJ has a contract with NBC until 2012 to provide NBC and it's affiliates with exclusive content.
This means anytime Fox wants to use any WSJ interviews it will have a NBC peacock in the corner, and of course, write a nice fat check to do so.

If NBC even allows the WSJ to be aired on Fox.
This is going to hurt Rupert's plan for his biz channel, and will only make CNBC a stronger news source on cable.

Now, there is also a very high probability that the WSJ will lose many of it's top editors and reporters to other newspapers. They just won't work for the Rupert.

Rupert has to make CNBC look bad, while CNBC has WSJ reporters on; working against your own company? Bizarro world hits business news.