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Continuing Coverage of the Dow Jones Story

When you consider the relatively short time it took for the upstart Fox Network to crush its cable TV competition, you get a look into the reason why some quarters are so fiercely attacking the potential buyout of Dow Jones (DJ) by News Corp. (NWS-A) and Rupert Murdoch.

Murdoch let it out of the bag when doing an interview recently, and he basically said that he wants to battle the fading New York Times (NYT) for the lead in setting the news agenda of the United States.

Most people don't understand the power in the country that it represents. You can have an important story that the New York Times may not ideologically agree with, and they put it somewhere on page 40 or something where very few people will find it. That way they can say they covered it without a lot of people understanding what they really did. This could be done through any media outlet.

So when we have heard recently that NBC (GE) had attacked Fox on how they've been covering the Iraq war, in reality the issue is setting the news agenda, not the war in and of itself.

When all the smoke is cleared away, that's what the supposed battle over "editorial independence" or "editorial integrity" is all about too. It's really that certain people don't want to give up control. And that specific control is talking about setting the news agenda itself.

The news agenda is speaking simply of what gets covered extensively, and what gets little or no mention. There can be stories that are important to know that a news organization decides to not cover. Not covering it is part of setting the agenda we all talk about.

This is why the New York Times has increasingly entered into the fray, they're the ones - possibly more than any others - that could be hurt by this deal. They've already been hemoragging print readers and advertisers; all they have left is a dubious reputation. If News Corp. can take away that, we may see an extraordinary fall that would be unprecedented. That's the real story behind the battle for Dow Jones.

Even with all the other financial reasons and way the property would fit in with News Corp., it is still the reason for the public battle. Those that have enjoyed decades of publishing their particular slant, are starting to see their influence erode. If News Corp. and Murdoch get Dow Jones, it'll be a fascinating, exciting story to watch to see how long it takes them to bury the New York Times. If Murdoch gets it, he will.

It's being buried anyway, this would just be the hammer that puts the final nail in the coffin.

Related Coverage:

Rupert Murdoch Retains Power to Hire and Fire at Wall Street Journal

Dow Jones, News Corp. Come to Editorial Board Agreement

Dow Jones Deal Coming Closer to a Conclusion

Latest Plan by Bancrofts Shows Board may be Just Rubber Stamp for Them

Dow Jones Board Drafting "Editorial Independence" Statement - Will Murdoch Accept?

General Electric and Pearson PLC Drop out of Dow Jones Sweepstakes

Bancrofts Out of the Dow Jones Negotiations - Board Takes Over

General Electric, Pearson PLC Consortium to Buy Dow Jones Already Under Fire

Bancrofts Said to be Readying Proposal for Special Board

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