Wednesday, May 02, 2007

MSM to Become More Balanced?

News Corp., owned by Rupert Murdoch, has made a $5 million bid on Dow Jones --which owns The Wall Street Journal.

Murdoch launched FNC into a liberal dominated news cycle, filled a huge void and hit ratings gold. FNC consistently blows away all of its cable competitors.

The WSJ is the second most read paper in the country (even more so than the NYT). It is only second to USA Today (which is a terribly trite paper IMO)...What grade-level is that written on?

"...Dow Jones confirmed today that it had received the offer but said only that the Bancroft family, which controls the company, was evaluating the bid. “There can be no assurance that this evaluation will lead to any transaction,” the company said in a written statement.

The acquisition of Dow Jones would broaden the reach of News Corp, owned by Rupert Murdoch, into business reporting and American media in general. The Journal has the second biggest circulation of any American newspaper, more than two million, behind USA Today. In addition, Dow Jones owns a widely circulated newswire service, other business news outlets like Barron’s and the MarketWatch Web site. The company had $1.78 billion in revenue last year.

The bid for Dow Jones in part reflects Mr. Murdoch’s belief that combining the company’s print and online assets with a television outlet could prove immensely valuable and competitive. Dow Jones co-owns, with NBC Universal, the television operations of CNBC in Asia and Europe. Under an arrangement that Mr. Murdoch would presumably seek to terminate, Dow Jones also provides news content to CNBC in the United States, and Wall Street Journal reporters are frequent contributors..." (source)

It would be nice to think that now even the luddites will have a chance to get another side of the story...

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