Is Murdoch a Force Too Hard to Resist?

If the Times Co. doesn't get its act together—which it may actually be doing—sooner or later enough Sulzbergers will grow sufficiently frustrated to seize control of the dominant family trust and sell the company to some trophy hunter.

We journalists are supposed to be skeptics (but not cynics). Murdoch's current statements about not messing with the Journal notwithstanding, I don't see how anyone in my business who's watched him operate can fail to be skeptical about his promises not to influence the Journal's news pages should he buy Dow Jones. Murdoch's entire history says the opposite. I don't share many of Murdoch's economic and political views (as I understand them—I've never met the man, just watched him). My problem isn't his views, it's that I value journalistic independence. I hate to see any owner—be it Murdoch or an ultraliberal—impose political, economic and social views on anyone's news pages.

I hope Murdoch doesn't get control of the Wall Street Journal, but I think he will. Some Bancrofts seem willing to sell, and my bet is that Murdoch can prevail by raising his bid a bit and luring a few more family members to his side.

Family or no family, journalism or no journalism, the stock market's a place where money talks. With a $65 or $70 offer, Murdoch wouldn't just be talking. He'd be positively bellowing. I don't think Dow Jones's shareholders could fail to listen.

© 2007