Rupert Murdoch Buys Wall Street Journal
By Logan Murphy Thursday Jul 05, 2007 7:28pm
Rupert Murdoch has succeeded with his $5 billion bid for Dow Jones. Negotiations are now complete and a formal announcement is expected next week.
Rupert Murdoch has succeeded with his $5 billion bid for Dow Jones, owners of the Wall Street Journal, according to sources acting for the Dow Jones board. Negotiations have been completed and the board is confident the terms of the deal will be accepted by the Bancroft family, which controls a majority of voting shares in Dow Jones, over the next few days. A formal announcement is expected next week.
Murdoch’s News Corporation will take over America’s most prestigious financial publisher at the price he originally offered on April 17, when he proposed $60 a share when the stock was trading at $36, a 67% premium.
After lengthy talks involving many lawyers, the deal includes a legally-enforceable agreement with Murdoch which will supposedly guarantee the integrity and independence of the Wall Street Journal’s journalism. Read more...
On the flip side, Dow Jones denies that a deal has been reached...
(h/t The Huffington Post)
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The Wing Nut Journal.
"Money doesn't talk, it swears".
Now we get even more misinformation...YIPPIE!!!!!!
There should be some rules over ownership of the amount of media one can own. Heehee, there was but when Murdoch wanted more, they changed the rules.
Does it matter? Aren't the WSJ editors bootlicking scum already?
LongTooth @ 2:
Propaganda, all is phony.
No problemo, Rupert you old F$ck! One more publication off my reading list... I won't be giving you one penny of my hard-earned cash for your blubbering butt-kissing bull$hit!
"But one source, acting for the Bancrofts, admitted privately that the Dow independent panel was only a “fig leaf” to facilitate the sale and that over time Murdoch would get round it."
Heh, and to wonder why independent blogs are the staple news source for so many.
It has begun.
... *=|*
Thomas Paine just rolled over in his grave.
Hangs head in Shame. Although I always cringed while reading the uber-conservo-editorial pages, the reporting in the rest of the paper was not that bad...but now...it will go the way of the dodo.
Ya think we'll start to see some titties in the the front page?
Seriously, the WSJ has been a rightwing piece of yellow journalistic sludge for years now. Since democracy is now a thing of the past(All Hail the Executive Branch!) and the media in general has been coopted by the radical right this one really doesn't make one bit of difference.
A. Cravan @ 4:
Not enough for Murdoch. So much for any integrity WSJ had. Any honest reporters should start looking for employment, now.
http://myfightfordemocracy.blogspot.com/2007/07/new-declaration-of-indep...
Face it. This country is finished.
right on! @ 6:
I thank God that I don't have to depend on their informationfor my investments. It has to be scary for the small investor.
Bush Bites @ 1:
HAHA! Good one BushBites!
I predict it will go from its traditional broadsheet style, go tabloid and sport "The [Topless, 19-23 Year Old] Women of Wall Street" on Page 3.
All the juicy Wall Street Gos will be found on page 6.
And the headlines will become Big, Bold and Catchy.
Ron @ 15:
Haven't you beat yourself up enough? You know there's no money in telling the American people the truth. Come back inside. We've got a great real estate scam here going against HUD. Everyone's going to make three or four hundred grand. You just move it into your offshore account. Your name will never even be used!" The Republicans.
well the journalist at the WSJ walked out last week in protest. but as usual these days, labor is expendable. it seems rupert is hell bent on destroying america. what's so sad is that all of our leaders are so willing to let it happen. they are giving whole foods shit for buying wild oats because of a monopoly but they could give a rats ass about the media.
Yeah, we have a legally enforceable document that is supposed to protect our civil rights and guarantee a system of checks and balances in the THREE branches of government, and we can all see what that is worth. NOTHING!!!!!
Legally enforceable means less than nothing to Murdoch. Why should it? He can buy his way our of that in a skinny minute. The Wall Street Journal will become the Fox News of the newspaper world and that is what Murdoch wants. As Neil Postman predicted, we will entertain ourselves to death.q
Murdock, sounds like murder, the murder of journalism, fire up the furnace evil prick.
What a lame excuse Bancrofts, you're guilty.
Recall the final dinner mint that exploded the carcass.
Legally enforceable is such a quaint term. Lets just call them guidelines, or not really guidelines, that's such strong language, let's say just an opinion.
Anyone taking bets on who the first blonde bimbo to have her tits on the cover of the wall street journal will be?
I like the words 'legally-binding', but will Rupert care? He's got enough money not to.
foolme1ns @ 22:
Ann Coulter?
"the continuous consolidation of money and power into higher, tighter and righter hands."
This man has made it clear that he uses his holdings to promote his agenda ... the WSJ's only strengh - in an economic venue - was its independence. It no longer has that.
Anyone that is smart, will find the next (non-WSF) 'independent' source of economic information. Anyone that isnt wont - and will in all likelyhood be fed bad information and lose money.
The M-WSJ (Murdoch - WSJ) will continue masquerading as independant.
which will supposedly guarantee the integrity and independence of the Wall Street Journal’s journalism
Ownership has it's privileges. This man has patience... gutting may take a little longer, but it will be done under the guise of new management, or the same way that GW Bush got support from his generals... by the use of hostile work environments... I don't fault the Bancroft family, I'm sure they tried to secure this with their lawyers... but I think they underestimate the single-mindedness of this lout to control the message and the messengers.
rupert murdoch is terrorist.
when you think about faux news. you realize that these past 7 years could not have happened without faux news. they are a terrorist organization. they are a very sophisticated propaganda network aimed at causing disharmony and division among the citizenry. it seduces the egos of it's news casters to be complicit in it's operation. and seduces the ego's of it's viewer's to take part in their own self destruction. it creates an ideal of a fantasy world that can not be supported by reality.
Ah the Neocon McDonaldization of the WSJ has begun!
It will sink like FOX!
The top 1% (78.3% Republican) will control two-thirds of the nation's wealth and the Bushonian Agenda will be effectively completed in terms of creating a New Ruling Elite by the end of his second term.
Good Night, and Good Luck
LandSurveyor @ 29:
Don't you mean it will STINK like Fox?
The Wall Street Yellow Journal.
LibertyLover @ 27:
Hahaha. He made the same promise to the sellers of the Times (London) and it is thoroughly documented that he shattered those promises.
The Bancroft family are just pretending. They know he'll do whatever the fuck he wants. And he's got kids, following in his footsteps. I can only hope they're as incompetent and dishonest as the progeny of his erstwhile enemy, Robt Maxwell.
Sheen slams Bush's "bullying" over Dixie Chicks'
"I saw what happened to the Dixie Chicks. If George W. Bush were a true Christian, like he proclaims himself to be, you know what he would have done? He'd have invited them to his next barbeque to play and say 'Hey, I love their music and whether or not I agree with them, I support their right to free speech,'" Contactmusic quoted Sheen, as saying.
The actor insisted that Bush was a 'bully' who 'enjoyed watching what happened' to the band.
"But instead he was a bully. And he enjoyed watching what happened to them ... it gave him a sense of power and righteousness," he added.
Earlier, Sheen had slammed the President insisting that he was an 'all an image' who kept a false pretense of being a regular guy, but in reality is rather cold to his people's sentiments and did nothing to help the band.
"If you're the president, and you're sitting on a 70 per cent approval rating, you just let these girls hang out to dry. They're getting death threats, their CDs are being burned and concerts canceled. And you say nothing, because that's who you are," he said.
I am sure Murdoch's hidden agenda is to bring down the stock market and cause our economy to collapse. Time to start stock piling food...
Methinks Dean Baker will soon have some more material for Beat the Press.
Murdoch is not going to change the tone of the editorial page much, but we have to worry about accuracy of the facts in straight reporting now.
"Chambliss, Stevens, Roberts, Enzi, Inhofe, Sessions, Coleman, Bond...GOP red state Republicans preparing to cut and run from Iraq!!! Go tell it on the mountain!!!
Murdoch taking over the WSJ means the moderately right wing publication will move to a far right publication. What credibility the paper had will be on the trash heap with the NY Post and Faux News.
"the deal includes a legally-enforceable agreement with Murdoch which will supposedly guarantee the integrity and independence of the Wall Street Journal’s journalism"
Right. Because we've all seen just how effective laws are when it comes to bridling the agendas of the upper echelons of the power elite. I have no doubt Mr. Murdoch eats legally-enforceable agreements for breakfast every morning.
Mmmmmmmmm, legally enforceable agreements....aaaggggg....
Since I can file how many times I have read the WSJ under NEVER, this has little impact on me.
Now that Murdoch owns it, I can file its integrity slightly above Weekly World News, or if Murdoch prefers, The New York Post.
L.A., Good! When the market crashes they all go down together because Murdock won't bother with warnings, just shared delusions and gov't-padding. Maybe there's an impeccable irony in the making.
miss_kitty @ 33:
Perhaps, but then, his progeny could be just as evil as the progeny of Sam Walton and we could have WSJ rags on every corner of every city, town and hamlet in the Brave New World...
KayInMaine @ 24:
Liberty Lover, things just may not go according to plan over the next several years as we assume cash makes for smooth sailing. It doesn't. Keyword: assume.
Finally, the Wall Street Journal will be fair and balanced.
So what? Everybody's got it right here. Extra, Extra....Hitler buys the Washington Times.
Yawn.
The WSJ always made my hands messy when I read it, so no big loss.
A fool and his money are soon parted. While ole Keef may be very shrewd, cunning, sly, manipulative etc. he's still an old fool.
According to our internal website at Dow Jones, they say this news report isn't true. I'd hate to quit because the part I work for is actually pretty fun.
wtf kinda name is rupert?
A. Cravan @ 4:
the editorials are trite and laughable, but it's the news sections are not partisan. Once ol' Rupert steps in, the latter will change. He will be able to switch around reporters and writers to fit his usual rhetoric. I'm just curious as to why the journalists of the WSJ decided to stop protesting...
Do we really believe that an arch-propagandist can run the highest profile financial information source? Will this do anything at all to actually promote anything that can honestly be called a FREE economy?
Its time for a progressive alternative, that does not turn a blind eyt on what real economies mean and do. Expose and reject the externalization of costs to the commons. Consider the human costs of corporate decisions. Expose the boardroom ripoffs and uber-salary pats on the back. Have a real discussion on the results of the primacy of the bottom line over all. Stop giving corporations the rights that real people deserve.
Lets make this an opportunity to leave behind all the negative things the WSJ already represented.
Screw you, Rupert.
Hey, this is good news. All those Fox News bimbos can finally put their tits to use in the Wall Street Journal's new centerfold section. Besides, Ruppy's about 80 something and he's ripe for terminal disease.
Jo @ 44:
good god no. bimbo implies human and female and she's neither.
WHY ARE THERE NO ANTI-TRUST LAWS ON MEDIA???
This countries free press is going down the drain with each passing year...
Well the Wall Street Journal just joined the ranks of Esquirer and FAUXNOIZ...worthless piece of shit rag, not worth the paper it is printed on. Murdoch makes everything turn to shit.
[...] Rupert Murdoch Buys Wall Street Journal from Crooks and Liars by Logan Murphy [...]
This is disgusting.
It had no real credibility anyway and the editorial page may have been at least as wingnut as the NYPost. So what the phuckkk does it matter?
It will be interesting when the murdoch penchant for propaganda becomes obvious in the 'financial paper of record.
Blargh @ 56:
ask newt gingrich and trent lott where they are. thanks to them, we have way more murdoch than we ever needed.
Ruthless People @ 38:
it's just electioneering for 2008
I don't think the sale of the Journal is any loss. You can get better info on the nets these days. And the editorial page is junk anyway.
Wall Street Journal?
Would this be the same Wall Street Journal that just ran an OpEd by Ted Nugent?
And how is Murdoch going to make it worse?
Blargh @ 56:
Man oh man. Look at all the shit this guy has bought this past year. Hillary Clinton, WSJ. What else? Probly some defense industries wouldn't you think?
StirFry @ 55:
Mary Carey? http://politicalhumor.about.com/library/images/blpic-marycarey.htm
What utter horseshit.
The fucking Washington Times claims the same type of thing. All Moon did was keep hunting for like minded extremists to hire and let them go. The WSJ won't change from a right wing bullshit lying Republican front to a blatant treasonous extremist lying propaganda machine like ALL of Murdoch's other propaganda units overnight/ The country will not see the change as it drives us deeper into the death spiral created by people like Moon and Murdoch..
Moon's propaganda unit has manipulated our nation with billions of overseas smuggled dollars for the last 25 years, and we will let this happen also.
I don't read the Wall Street Journal.
It's not that any of us read it - those who do are fucked.
We need to get Congress to put limits on what these rich fools can and cannot buy.
This kind of crap is just asking for more and more problems from these evil ass rich fools.
This bastard is already controlling our media and now he will be playing with the stock market and really screwing around with the little money we have left.
You think we are getting these false polling numbers, just wait until he starts giving us even more then we are now getting of false quotes on all the money he will be controlling.
What in the hell are these people thinking with this kind of shit?
WSJ is just another rag for the rich and suckers that support predatory capitalism. I'm surprised Murdo didn't buy WSJ years ago.
L.A. Confidential @ 14:
At this point nobody can say that this country doesn't deserve it. Assuming the neocon nuts don't blow up the entire planet(a big assumption)historians will have a field day studying this insane society.
Murdoch is a cancer in the body of the global society.
It's nice to see actual jouranlistic integrity being displayed on Hardball. It's a cinch that that is never going to happen when Tweety is hosting. Shuster is cutting through the bullshit and the intellectual dishonesty in the utterly pitiless way that these things should be handled. If the media had been handling spin and lies like this since the beginning, public sentiment would not be represented by the thoroughly conditioned and propagandized state that it is today. The task of bringing truth to light would not be coming from a position of being seriously behind the eight ball, as is now the case.
Hopefully, when Tweety is fired for his egregarious breach of company ethics requirements, as committed through his pimping of Ann Coulter's books - in order to gain favor with his own publisher (who just happens to also be Coulter's publisher), maybe Shuster can take the hack Tweety's place. GE/MSNBC would serve itself up to a gut-busting helping of credibility if they made that happen. they could begin the long, arduous process of redeeming themselves somewhat from their shameful and miserable failings that contributed and helped enable our current sorry state of affairs. They've got a choice they need to make.
Looks like there is one less paper that I will be reading. It has always been difficult to plow past the conservative bias, but it is one great paper for business news.
EXTRA! EXTRA! READ ALL ABOUT IT!
WALL STREET JOURNAL R.I.P.! WALL STREET JOURNAL R.I.P!
OMG! Well, it's always been a totally neocon instrument, anyway.
Why is this Australian clown buying up everything in the first world? He'll have Canada next.
I'm betting Coultergeist, Sean-boy and Billo get regular op ed columns.
That makes another newspaper scratched off the list. One less to be recycled..why chop down trees to read Murdock and put money in his pocket.
John Lennon gets assassinated at 40, but Rupert Murdoch lives on into old age to threaten and destroy everyone and everything in his path.
Life is so unfair. Where's Murdoch's Mark David Chapman?
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