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 Post subject: MURDOCH ABOUT TO TAKE OVER WALL STREET JOURNAL
PostPosted: Mon Jun 25, 2007 4:53 am 
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Murdoch Said to Be Close to Terms on Journal

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The News Corporation, controlled by Rupert Murdoch, and advisers for Dow Jones and its controlling Bancroft family were close last night to agreeing on terms designed to protect The Wall Street Journal’s newsroom independence if the company accepts a takeover bid from Mr. Murdoch, according to several people briefed on the talks.

However, these people cautioned that a deal between Mr. Murdoch and the Bancrofts’ advisers did not mean that either the Dow Jones board or the family, which controls 64 percent of the shareholder votes, would approve the arrangement.

If an agreement on newsroom independence were to be made by the Dow Jones board, the News Corporation and the Bancroft family, the only barrier standing in the way of Mr. Murdoch’s control of The Wall Street Journal would be the selling price.

Mr. Murdoch has offered $60 a share for Dow Jones, which he has long wanted to add to his global media empire, and promises that he will not meddle in the news pages. But the Bancroft family, which has controlled the company for more than 100 years, is wary of his reputation for sensationalism and for interfering in the news operations of his media companies for his own political or financial ends
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PostPosted: Mon Jun 25, 2007 8:34 pm 
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Would this really be much of a change from business as usual at the WSJ? I mean, their op-ed pages already favor Bush & Co.

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PostPosted: Mon Jun 25, 2007 8:52 pm 
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Probably not....just another newspaper that is being officially taken over by the Murdoch Blob.

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PostPosted: Mon Jun 25, 2007 9:20 pm 
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Catherine wrote:
Probably not....just another newspaper that is being officially taken over by the Murdoch Blob.

True...

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PostPosted: Tue Jun 26, 2007 6:31 am 
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How many US Senators does Murdoch own? This report suggests that he owns Trent Lott, for one....AND it also suggests that Murdoch knows how to play both ends against the middle...he woos politicians of both parties, thus keeping them all "beholden" to him:

Times suggests Fox News owner Rupert Murdoch bought off top US senator


The New York Times plans "a look at how Rupert Murdoch has used his media empire to advance his personal and political agendas" in Monday's editions, a source familiar with the paper's planning tells RAW STORY.

The piece opens with the suggestion that Murdoch staved off legislation that could strangle his US business interest by buying off a senator.

"Congress was on the verge of limiting any company from owning local television stations that reached more than 35 percent of American homes. Mr. Murdoch’s Fox stations reached nearly 39 percent, meaning he would have to sell some," the Times reporters write. "In a late-night meeting just before Thanksgiving of 2003, Congressional leaders agreed to raise the limit — to 39 percent."

Sen. Trent Lott had opposed raising the limit.

"But in the end, he, too, agreed to the compromise," reports the Times. "It turns out he had a business connection to Mr. Murdoch. Months before, HarperCollins, Mr. Murdoch’s publishing house, had signed a $250,000 book deal to publish Mr. Lott’s memoir, 'Herding Cats,' records and interviews show."

The story is a fascinating one for New York's newspaper of record. As a massive investigative piece written by some of the Times' finest reporters and organized by the Times Managing Editor herself -- Jill Abramson -- it stands to have a major impact on a pending deal between Murdoch and the Times' New York competitor he is seeking to buy, The Wall Street Journal.

Quote:
While he is a scratching post of the left for his ownership of Fox News Channel and the conservative New York Post, the Times notes that Murdoch often bends to the political winds to suit his business interests. He held two fundraisers this month for Sen. Hillary Clinton (D-NY), a leading Democratic candidate for president
.


Quote:
The Times notes other payouts by Murdoch's publishing arm to major politicians -- $4.5 million to Newt Gingrich, $25,000 to Sen. Arlen Specter (R-PA), $142,000 to Sen. Kay Bailey Hutchison (R-TX) -- all of whom sit on the Commerce or Judiciary Committees overseeing the media business.

Still, the paper leaves the door open for Murdoch.

A former HarperCollins executive told the Times, “It’s not done in a direct way where he issues instructions. It’s a bunch of people running around trying to please him
.”

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PostPosted: Fri Jun 29, 2007 5:09 pm 
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Bill Moyers: Rupert Murdoch 'is to propriety what the Marquis de Sade was to chastity'

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Bill Moyers will inveigh Friday, in a video essay released early by PBS to RAW STORY, against Rupert Murdoch and his bid to purchase the Wall Street Journal. [/b]

"Rupert Murdoch is no saint," says Moyers of the Fox News owner. "He is to propriety what the Marquis de Sade was to chastity. When it comes to money and power, he's carnivorous, all appetite and no taste. He'll eat anything in his path"

Moyers speaks further about Murdoch's ability to win over politicians, complaining, "Now Bill and Hillary Clinton, who know on which side their bread is buttered, like having it slathered by their new buddy, Rupert. Our media and political system has turned into a mutual protection racket."

"But the problem isn't just Rupert Murdoch," concludes Moyers. "His pursuit of the Wall Street Journal is the latest in a cascading series of mergers, buyouts, and other financial legerdemain that are making a shipwreck of journalism. ... Murdoch just the predator of the hour."

Paul Krugman's subscription-only Thursday column for the New York Times discusses the same issue, pointing out that in a 2003 poll on erroneous beliefs about the Iraq War, "two-thirds of Fox devotees believed that the United States had 'found clear evidence in Iraq that Saddam Hussein was working closely with the al-Qaida terrorist organization.'


I can't agree more with Moyers' assessment of what "reporting the news" has actually become. The old Soviet Union's use of propaganda looks laugable when we compare it to the US's use of it since Bush came into power. :evil: And Murdoch has been able to use Bush's own lack of ethics to make sure that he, Murdoch, gets what he wants...complete domination over the newsroom.

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"Behind every great fortune lies a great crime."
Honore de Balzac

"Democrats work to help people who need help.
That other party, they work for people who don't need help.
That's all there is to it."

~Harry S. Truman


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