If you haven't heard already, Rupert Murdoch - who owns everything FOX branded - just bought the Dow Jones Industrial for $5.6 billion from the Bancroft family. What's owned under that particular umbrella? The Wall Street Journal. And have you WATCHED the FOX news channel recently? See where we're going with this?
Its being speculated like a motherfucker that Murdoch is going to be using the Journal to boost the launch of the Fox Business Channel, due to premiere in October. The newspaper's editor-in-chief has expressed concern but is "hopeful" that the integrity of the Journal will stay in tact. For the next few years, he might get his wish. While obvious minor changes will happen, mostly unrecognizable to a freelance reader, the paper is currently being managed by CNBC, whose contract with the magazine expires in 2012. So until then, Murdoch can't make a significant play in altering the newspaper in any major way, however, the dude doesn't spend $5.6 billion without knowing he's not getting every penny's worth, so I'm expecting some interesting things to go down in the coming months, and the coming years.
Any thoughts? Do you think The Wall Street Journal will steer clear of any drama in its future?
1 comment:
Interesting to know.
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