A new era has begun at the Wall Street Journal after Ruport Murdoch finally acquired the illustrious financial paper. His News Corporation group says it paid previous owners Dow Jones four billion euros. The hard-fought deal came after long negotiations and intense wrangling among members of Dow Jones’s controlling shareholder, the Bancroft family. Media analyst Porter Bibb said: “He’s coveted the Wall Street Journal for years. Eleven years ago and then again about nine years later he made overtures to the the Dow Jones and was rebuffed. This is the capstone of his career as the number one media mogul in the world right now.” Concerns over the deal among the Bancroft family have been shared by some employees. “Rupert Murdoch? He is one of the most destructive forces in politics, journalism, whatever. I don’t want to work for the man. So I quit”, said one disgruntled ex-staff member.. Seeking to address such unease Murdoch said any concerns about corporate meddling in the Journal’s news pages are unwarranted. News Corporation has agreed to create a committee that would have to sign off on any decision to hire or fire top editors at the paper.
Wall Street Journal enters the Murdoch era