The news today that the "Wizened of Oz," Rupert Murdoch, has taken a giant step toward adding the Wall Street Journal to his vast portfolio, means that we now look forward to the dumbing down of one of America's most reputable newspapers.
Apparently, Dow Jones and News Corp. have come to terms on a deal that would create an independent board to oversee the Journal and the hiring of its editorial writers should the acquisition go through. This agreement removes the biggest stumbling block in Murdoch's $5 billion bid to own the company, though the plan must still be approved by the controlling Bancroft family.
I have to admit, I'm not a fan of the editorial content of The Journal, as most of it is only slightly to the right of Genghis Khan. But, some of the writers are amongst the best in the US. Having seen what Murdoch has done to just about everything his greedy paws have grabbed, even after promising to not influence their editorial policies, I'm sure we can look forward to nudes on page three.
And when he starts his new financial TV network, naming it after the Wall Street Journal, if it ends up as "Fair and Balanced" as the Fox News Network, I'm sure we can look forward to objectivity being thrown out, along with a sizable number of WSJ staff. After all, someone has to pay the $5 billion tab for this little exercise, and it won't be "The Dirty Digger!"
George Parker
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