Murdoch’s Arrival Worries Journal Employees

[babylonsister]

http://www.nytimes.com/2007/07/19/business/media/19journal.html?_r=1&oref=slogin

Murdoch’s Arrival Worries Journal Employees


By RICHARD PÉREZ-PEÑA
Published: July 19, 2007

On May 14, more than 100 reporters, editors and executives clustered in The Wall Street Journal’s main newsroom to mark the retirement of Peter R. Kann, the longtime leader of their corporate parent, Dow Jones & Company.

Mr. Kann, in rolled-up shirtsleeves, was typically self-effacing about his own contributions to the company. But the celebration of the past was muted by worry about The Journal’s future. A few weeks earlier, Rupert Murdoch’s News Corporation had offered $5 billion to buy Dow Jones. The Bancroft family, owners of a controlling stake in the company, rebuffed the offer at first, but there were signs that some of them were wavering.

Mr. Kann, who had been advising the family against selling, expressed hope that Mr. Murdoch would not prevail, using an image of The Journal as a citadel trying to repel an invasion by tabloid barbarians.

“The drawbridge is up,” Mr. Kann told the group. “So far, so good.”

For employees at Dow Jones, the 11 weeks since they learned of the Murdoch offer have been a wrenching time, raising the prospect of fundamental changes at an organization that had already had its fill of big changes in the last couple of years — with Mr. Kann being replaced by Richard F. Zannino as chief executive, with Marcus W. Brauchli taking over from Paul E. Steiger as top editor; and with a shift of its mission, by adding a Saturday paper and more lifestyle articles to appeal to new advertisers, and investing heavily in its digital properties.

So a possible takeover by the News Corporation — the deal is now in the hands of the Bancroft family after the offer received board approval — has placed an unusual strain on the company and its employees. Tensions have risen between The Journal’s newsroom and management, particularly Mr. Zannino, a nonjournalist who had spent much of his career in the garment industry.

Journalists are also facing two futures they never expected when they signed on to jobs they saw more as a mission, not a business — the uncertainty of what Mr. Murdoch would do as an owner, or the uncertainty of a suddenly harsh advertising climate that could lead to deep job cuts.

“There’s a real culture of passion for the truth, for shining lights in dark places and making the mysterious understood,” said a reporter, one of dozens of people interviewed at The Journal and Dow Jones, nearly all of whom asked for anonymity, fearing a backlash from the current regime or the next one. “The overwhelming view here is that under Murdoch, that gets compromised from Day One, and that idea is devastating, heartbreaking, to people.”

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[bryant69]

1. The Journals reporting on the economy has generally been good

I rather doubt it will stay good under Murdoch.

On the other hand I doubt he'll make many changes with their extremely right wing editorial page.

Bryant
Check it out --> http://politicalcomment.blogspot.com

[NCarolinawoman]

4. Yes, The WSJ has really been shining the light on Hedge Funds,

and really dissecting them and advocating for more transparency. I would force myself, (not being an economist) to read these articles and educate myself.

The WSJ has also consistently gone after the Health Care Industry, putting on the front page heart-wrenching stories of families that were screwed over by hospitals and insurance companies.

Recently they had a great article in their Saturday paper entitled "Grass Warfare", which reported on neighborhood movements to ban pesticides from lawns. I learned that there may be a link between Parkinson's disease and herbicides.

I usually skip over the neo-con editorial page. Back in the 2004 primaries they would often put Howard Dean and Wes Clark's photos side by side, right at the top of the page, and tell you why no one should vote for them...... Hint.....they were anti-war.

[HughBeaumont]

2. Well, DUH. Reaganite fascists naturally make a decent human being's skin crawl.

WSJ will now turn into W-S-"SOME SAY" . . .

[KharmaTrain]

3. Attention John Fund's Girlfriends...

This means you'll be picking up the ENTIRE tab from now on.

P.S., I hear he's still a real mean drunk...keep a baseball bat handy.

:rofl:

[LeftishBrit]

5. Murdoch is pure evil

He's done enormous damage to both Britain and America.