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MSNBC reporting News Corp buys Dow Jones. Now they control

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CK_John Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 10:16 PM
Original message
MSNBC reporting News Corp buys Dow Jones. Now they control
financial reporting. This is bad, bad thing.
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Orangepeel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 10:23 PM
Response to Original message
1. shit. I was hoping this wouldn't happen
but, it will be okay. There's a reason that the WSJ news pages are excellent, even though the editorial page is essentially a parody. This is actually a case where market forces will work. The business community will find other sources if Dow Jones material isn't helping them make money.

I'm predicting that the circulation of The Economist goes up.
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NCarolinawoman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 10:30 PM
Response to Reply #1
2. For four generations my family has subscribed to the WSJ.
Excellent informative articles. Horrible draconian editorials.

I will be watching carefully to see if my family would want to continue this tradition. Then I will let the WSJ know, one way or another.
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iconocrastic Donating Member (627 posts) Send PM | Profile | Ignore Mon Jul-16-07 10:43 PM
Response to Reply #2
5. The WSJ will certainly welcome your opinion.
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iconocrastic Donating Member (627 posts) Send PM | Profile | Ignore Mon Jul-16-07 10:43 PM
Response to Reply #2
6. The WSJ will certainly welcome your opinion.
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CK_John Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 10:31 PM
Response to Reply #1
3. This is like taking the umpire out the game. The financial pages had a 100+
yr reputation of excellent sourced information and independent research. In a cut throat world of finance, all the players agreed the info good and reliable.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 10:37 PM
Response to Original message
4. Wall to Wall propaganda
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iconocrastic Donating Member (627 posts) Send PM | Profile | Ignore Mon Jul-16-07 11:14 PM
Response to Original message
7. It's official - WSJ reports 12:03 AM
News Corp. Reaches Tentative
Agreement to Buy Dow Jones
By SARAH ELLISON
July 17, 2007 12:03 a.m.

In what could be the final round of talks, yesterday negotiators from News Corp. and Dow Jones -- including Chief Executive Richard Zannino, company advisers and two independent directors -- reached an agreement in principle on a deal first proposed by News Corp. in mid-April. News Corp. Chairman Rupert Murdoch resisted pressure from Dow Jones to raise his initial $60 a share offer, which represented a 67% premium to where the Dow Jones stock was trading before news of the offer became public. But Mr. Murdoch suggested the possibility of nominating former Journal Managing Editor Paul Steiger to the board of News Corp., according to a person who was there.
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Zynx Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-16-07 11:27 PM
Response to Original message
8. Good. Maybe that will move the editorial page a little to the left of Ghengis Khan.
Edited on Mon Jul-16-07 11:27 PM by Zynx
Liberal bastion this ain't.
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unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-17-07 12:09 AM
Response to Original message
9. good news for corporations, bad news for investors and policy makers
Edited on Tue Jul-17-07 12:09 AM by unblock
murdoch's philosophy of distorting the news to advance his agenda will show itself most notably in a bias toward less corporate disclosure, less critical analysis and fewer critical stories of big corporations. if there are critical stories, they will be against the smaller upstarts that the big corporations feel threatened by.

big corporations will start making more money at the expense of their investors.

the big corporations are envious of the black veil of secrecy that surrounds cheney's office....
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question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-17-07 12:20 AM
Response to Original message
10. Too close to call
from the WSJ:

The deal will be put to the full Dow Jones board this evening for its approval, said people familiar with the situation.

The deal still faces its biggest hurdle -- getting approval from the Bancroft family, which controls 64% of Dow Jones's voting power. Mr. Zannino has indicated to News Corp. that the family's position on the deal is too close to call, according to a person who spoke to him.

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