Continuing Coverage of the Dow Jones Story
In what I look at as a smart move, the editor of The Wall Street Journal (DJ), Marcus Brauchli, said concerning the guidelines of an agreement set to protect the editorial integrity of the newspaper, that they were "reaffirming [to] our principles of journalistic independence" and thanked "the Murdoch family and their colleagues at News Corp for their efforts toward an agreement to preserve those principles."
Also signing on to the agreement was the managing editor of Dow Jones Newswires.
The continual, irrational, hyped attack upon Rupert Murdoch and News Corp. (NWS-A) did nothing to make the "venerable" company look that way at all.
There is absolutely nothing being added to the conversation about Murdoch and the deal other than the usual rants about him being conservative and he will use Dow Jones to further his business interests.
The more that nonsense is thrown around, the more ignorant the detractors are looking. Many have already viewed the attacks as irrelevant, and are increasingly looking upon the attacks as anti-business.
Part of the problem here hasn't anything to do with Murdoch, but the newspaper industry in general, which has been circling the wagons in the midst of a legitimate concern about the survival of their industry.
The attacks are becoming counterproductive, and so the comments by Brauchli are refreshing to hear. This deal either needs to be made or dropped. It needs to be done based upon business reasons rather than the continual vitriol spewing out of the mouths of those that have nothing to do with the deal.
Why the Bancrofts are taking so long to say yes or no is beyond me. Either the deal hammered out is good enough for them or it's not. Not making a decision does no good for any side in the matter.
The longer it goes on though, the more positive thinking people are about Murdoch getting the company. It's a big step to hear insiders of the company starting to make positive comments.
What's obviously happening with the Bancrofts is certain people that hate Murdoch and News Corp. are whispering in their ears, keeping the controversy going, even after there really isn't a controversy. It's back to where it was in the beginning: the ball's in the Bancrofts' court. They need to make a decision.
Related Coverage:
New York Times Article says if Murdoch buys Wall Street Journal, Dark Day for American Democracy
What the Real Battle over Dow Jones is About
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
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» Is Rupert Murdoch being Held to a Higher Standard than His Competitors? from ManagersRealm
An interesting op-ed piece by Norman Pearlstine in the Los Angeles Times talks about the failure of many newspapers and magazines to have a high standard of editorial independence. He even talks about the failure of the New York Times... [Read More]
Tracked on: July 8, 2007 5:38 PM | Permalink to Trackback