A smart New York friend of mine sent me his two cents on Murdoch and Dow Jones:
First, Murdoch doesn’t invest $5 billion to lose money or destroy the product he buys.
He’s not an idiot.
He’ll put money into the WSJ to build it up.
He gives his readers what they want.
Readers of the SUN want naked breasts, and he gives them Page Three.
Readers of the WSJ want solid, reliable business news.
He’ll make damn sure they get it or he can kiss his five billion goodbye.
And, as he joked in an interview with TIME: if they want Page 3 girls in the WSJ, he’ll make sure they all have MBA’s.
As far as political slant, the WSJ editorial policy is already so far to the right that it makes Murdoch look like a flaming liberal.
So, my bottom line is that he won’t destroy the WSJ, he may make it better, and he will squeeze every ounce of energy
out of the staff which is probably what has them all up in arms in the first place.
Amen.
(Photo by David Mariuz)
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