Blogroll Me! How This Old Brit Sees It ...: Murdoch;Dow Jones;WSJ;The Bad News ...

01 August 2007

Murdoch;Dow Jones;WSJ;The Bad News ...

Apologies in advance for being the bearers of such shocking & scary news regarding the most recent Rupert Murdoch outrage.

Rupert Murdoch has won his battle to take over rival US media business Dow Jones, owner of the Wall Street Journal.

No wonder the wanker's laughing.

He's gone and grabbed himself something else.

His News Corporation company is paying $5.6bn (£2.7bn) for Dow Jones, after agreement was reached between the two boards.

As significantly, Mr Murdoch has managing to secure the backing of a majority of the Bancroft family, which controls 64% of the Dow Jones' voting shares.

Although the Dow Jones board has backed the deal, one of its directors resigned in protest at the move.

Dieter von Holtzbrinck said he was "very worried" about the impact of the bid on the Wall Street Journal's editorial independence

Another, Leslie Hill, reportedly quit as a director as the final deal took shape.

News Corp has vowed to respect and protect the paper's position.

However, critics point to Mr Murdoch's track record of interfering in the editorial decisions of papers that he owns, such as the New York Post and The Sun.
What happens next?

With the majority of Bancrofts pledging their support, a meeting of all shareholders will be convened in either September or October to vote on the deal - with it likely to proceed.

Read the rest of the related BBC report.

Who was it who said;"All power corrupts. Absolute power corrupts absolutely."?

In case you're one of those who don't watch or read or listen to the his news, find out for yourself all you'll ever need to know about this man.

We suggest he should enjoy it while he can. Since considering the shape he's in and the age he's already attained, we reckon he's likely to learn pretty soon that a certain old saying still rings as true as it ever did; 'You can't take it with you'.

Remember though that in the meantime, as far as the many millions of gullible and/or naieve among us are concerned - whatever Murdoch decides then decrees - more often than not dictates the course of most people's daily lives and by logical extension the shape of almost all prospects for their futures.


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Anonymous Anonymous said...

Josh Silver at the Huff Post isn't exactly in love with this idea either. Here's what he wrote.

2:13 pm  
Anonymous kiwi said...

He couldn't get away with all his dubious dealings in the UK, so flitted of to the States some years ago. Remember, Richard?

7:42 pm  

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