Media Furious About ‘Conservative’ Murdoch’s Offer to Buy WSJ

Photo of Julia A. Seymour.

Story after story about Rupert Murdoch’s purchase offer for Dow Jones & Company, which owns The Wall Street Journal, has criticized the prospect as a threat to journalism, questioned the media mogul’s “editorial integrity” and attacked his character.

Journalists, media critics and the union representing the Journal were up in arms.

“[P]robably not quite as frightening as the day we learned Kim Jong Il has the bomb, but close … very close. It could be worse. We might have discovered, for example, that Saddam Hussein had stashed all those missing weapons of mass destruction in a Pasadena storage locker rented to Osama bin Laden,” said a Los Angeles Times column.

Sen. Bernie Sanders, D-Vt., went on CNBC’s “Kudlow & Company” on May 1 to voice his opposition and said he will try to block the deal legislatively.

Former News Corporation editor Ken Chandler responded:

“There’s more diversity than anybody ever dreamed of. And this is an argument that comes up every time someone on the conservative side wants to do something,” said Chandler.

The Wall Street Journal’s union president, Steve Yount, also condemned the potential deal for what amounted to political reasons:

“Murdoch’s media empire includes the less than ‘fair and balanced’ Fox news channel …”

On June 5, Yount announced that the union was courting “billionaires with integrity” including Warren Buffet and Ron Burkle to make a counter offer to Dow Jones. Both Buffet and Burkle are Democratic supporters and major fundraisers for the party. Buffet will hold a Clinton fundraiser this month, and an Obama fundraiser down the road, according to Bloomberg.

The union itself, IAPE Local 1096, is affiliated with the Newspaper Guild Communications Workers of America, which is a part of the AFL-CIO. The AFL-CIO threw millions into “grass-roots mobilization” to help elect Democrats in 2006.

Slate.com, Porfolio.com, NPR, The New York Times, The Washington Post, CNN, Columbia Journalism Review all criticized Murdoch’s offer.

“On the issue of bias, there is clearly one against Rupert Murdoch,” said Marek Fuchs The Business Press Maven, about the recent coverage.

Journalists who criticized Murdoch’s “ego” downplayed the strategic sense of the bid. Murdoch plans to create a Fox financial channel and owning Dow Jones & Company and The Wall Street Journal dovetail into that quite nicely.

Most articles barely mentioned investors who support a Murdoch buyout, and didn’t explain how much shareholders stand to gain. The $5 billion purchase offer increased the value of Dow Jones by roughly $2 billion.

—Julia A. Seymour is an assistant editor for the Business & Media Institute.


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"Fair and Balance"

"Fair and Balance" to the left is socialist and communism.

The article is crazy.

The former and current member

The former and current members of the Wall Street Journal's Washington bureau are as militantly leftist as any other Washington bureau.  A small sample of former and current leftists writing for the Wall Street Journal: Jill Abramson, Jane Mayer, Thomas Ricks, Ron Suskind, Al Hunt, Jackie Calmes, Jeanne Cummings, David Wessel, John Harwood and on and on.  Who the hell is surprised that such useful idiots would oppose Murdoch's purchase of Wall Street Journal but would applaud the purchase of the Wall Street Journal by their fellowing traveling leftist Burkle?

Media is furious....You mean

Media is furious....

You mean the leftist media is furious.

Too bad...So sad.

Get over it and moveon.org

Yes, lefties are furious...

Yes, lefties are furious...

I mean just imagine how grossly unfair it would be for them if conservatives ran most of the major news outlets in this country...

How dispicably unjust would it be if conservatives controlled the public school system and universities...

They'd be at such a heart-breaking disadvantage if conservatives ran the vast majority of the film, television, theatre, and radio industry...

And the labor unions...

And the art museums...

And the United Nations...

And even exalted institutions like the Nobel Peace Prize...

etc, etc, etc, etc, etc, etc, etc...

It would be un-imaginably unbearable...why it would certainly require the astounding super-human strength of...

A conservative:)

Priceless TM.... Right on

Priceless TM....

Right on the Money...as they say...lol!

I find it interesting that NP

I find it interesting that NPR, that taxpayer subsidized liberal talking point network, dares to criticize Rupert Murdock on a business deal. He and his shareholders take risks and lose or make money on his businesses. NPR needs our tax money to keep that socialist network alive.

The following liberal rant is subsidized by conservatives against their will, and cheered by socialists and communists, by a grant from the United States federal government - - - Should be a required NPR promo

Attack, attack,attack. The le

Attack, attack,attack. The left and the MSM keep trying to smack-down anything the deem unacceptable. It does'nt matter if they can prove it, (Fox being a right-wing network), all they have to do is keep repeating it over and over and over.
Nortonalec

I take it liberal journalists

I take it liberal journalists don't like the prospects of the unemployment line? I wonder if the shareholders of the NYT are thinking to themselves, please Rupert, please buy us out of this nightmare Sulzberger has gotten us into instead of the Dow Jones group! At current stock valuations, the NYT is a bargain ripe for take over. http://finance.yahoo.com/q/ks?s=NYT

 “The object of life is not to be on the side of the majority but to escape finding oneself in the ranks of the insane.” – Marcus Aurelius

I'd like to see what they'd d

I'd like to see what they'd do if Rush Limbaugh tried to buy the NYT... Their heads would explode! And that would suit me fine...

Rushbo

Just the hint of it would be worth watching the storm.

Lysdexics of the World Untie!

what they'd do if Rush Limbaugh tried to buy the NYT

what they'd do if Rush Limbaugh tried to buy the NYT

Maybe Rush, Hannity, Levin, and Ingram should form an LLC and try to buy the New York Times and The Washington Post. ;-)

Or maybe they alreay did . . . and are just waiting a bit longer for the price to drop as Liberals continue to ruin those papers!

The left msm totally busted again.

The left msm totally busted again. What can I say, they've courted left wing moguls to deny their hated nemesis "FoxNews Master"...
LOL

Great job on the article, they are once again completely busted. They might as well forget hiding it anymore, it's not even arguable anymore.