Today Reuters reported that the talks are over and an announcement of Rupert Murdoch’s buyout of Dow Jones & Co. is expected next week. It should be noted that Dow Jones has issued a denial.
As the rumors of the takeover surfaced on July 6, the journalistic assault on Murdoch has continued.
Murdoch has been the focal point of scorn from media critics, reporters and editors – even being labeled a “predatory capitalist.”
Dean Starkman of the Columbia Journalism Review (CJR) has led a crusade against the buyout. Since negotiations were announced in April, Starkman has written 16 stories criticizing the possible deal.
CJR, which labels itself as “a watchdog and a friend of the press,” has published 18 altogether – none favorable. A CJR editorial compared Murdoch to a “scorpion” its July/August editorial. “Memo from The Audit to the Dow Jones board and the Bancrofts: Don’t do it,” wrote Starkman in a June 26 post entitled “Pitiful.”
Almost the entire genre of professional media publications and watchdogs has been critical of the deal. Joe Strupp of Editor & Publisher called Murdoch a home wrecker.
“Putting in controls for what Murdoch can do with the Journal is like selling a landmark house and stipulating that it can never be painted a certain garish color or get covered in aluminum siding,” wrote Strupp. “If Murdoch buys this house, don’t be surprised if he replaces a few windows, knocks down couple of walls, and paints it a color the former owners will hate.”
Some Wall Street Journal reporters, acting in the name of “quality” journalism, demonstrated their bias against Murdoch by staging a half-day walkout on June 28 to protest the News Corp. deal.
