International Herald Tribune Editorial - Murdoch and the Journal
International Herald Tribune Editorial - Murdoch and the Journal
Copyright by The International Herald Tribune
Published: June 11, 2007
Editorial pages generally do not compliment the competition, but today we write in praise of The Wall Street Journal. The Journal, the crown jewel of Dow Jones & Co., produces a balanced and trustworthy news report that is required reading for corporate and political leaders around the world. The question is whether that news operation will survive if Rupert Murdoch persuades the Bancroft family to sell Dow Jones, and thus The Journal.
Murdoch has dangled a hefty $5 billion before the family that has controlled The Journal for more than 100 years. Frankly, we hope the Bancrofts will find a way to continue producing their fine newspaper, or, failing that, find a buyer who is a safer bet to protect the newspaper for its readers.
For the record, most of us who still work for a family-controlled newspaper like The New York Times lament another news organization's loss of protection from political currents and the unfettered demands of quarterly earnings. When the full corporate culture takes hold, history shows that costly and expert news operations do not flourish.
An excellent example of what is at stake appeared on the front page of last Tuesday's Journal, a powerful assessment of Murdoch's shaky stewardship of the news outlets in his empire. The Journal reported on Murdoch's successes, of course. It also documented times when Murdoch has failed to keep his promises of journalistic independence in his media properties.
The Journal cited instances in which he reneged on his vow to leave news operations alone, like at The Times of London, or when his conglomerate canceled a book and stopped carrying the BBC news by satellite to curry favor in China. As it concluded, Murdoch has tightly controlled news operations that "have made coverage decisions that advanced the interests of his sprawling media conglomerate."
Would Murdoch tolerate such frank and expert reporting?
Copyright by The International Herald Tribune
Published: June 11, 2007
Editorial pages generally do not compliment the competition, but today we write in praise of The Wall Street Journal. The Journal, the crown jewel of Dow Jones & Co., produces a balanced and trustworthy news report that is required reading for corporate and political leaders around the world. The question is whether that news operation will survive if Rupert Murdoch persuades the Bancroft family to sell Dow Jones, and thus The Journal.
Murdoch has dangled a hefty $5 billion before the family that has controlled The Journal for more than 100 years. Frankly, we hope the Bancrofts will find a way to continue producing their fine newspaper, or, failing that, find a buyer who is a safer bet to protect the newspaper for its readers.
For the record, most of us who still work for a family-controlled newspaper like The New York Times lament another news organization's loss of protection from political currents and the unfettered demands of quarterly earnings. When the full corporate culture takes hold, history shows that costly and expert news operations do not flourish.
An excellent example of what is at stake appeared on the front page of last Tuesday's Journal, a powerful assessment of Murdoch's shaky stewardship of the news outlets in his empire. The Journal reported on Murdoch's successes, of course. It also documented times when Murdoch has failed to keep his promises of journalistic independence in his media properties.
The Journal cited instances in which he reneged on his vow to leave news operations alone, like at The Times of London, or when his conglomerate canceled a book and stopped carrying the BBC news by satellite to curry favor in China. As it concluded, Murdoch has tightly controlled news operations that "have made coverage decisions that advanced the interests of his sprawling media conglomerate."
Would Murdoch tolerate such frank and expert reporting?
posted by Carlos T Mock at 7:02 AM
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