In April, Rupert Murdoch made a $5 billion offer to buy Dow Jones and Co., which publishes the Wall Street Journal — the country’s second biggest newspaper behind USA Today — and also owns Dow Jones Newswires and Marketwatch.com. The Bancroft family, majority owners of Dow Jones, initially rejected the offer but came back several weeks ago to say it would consider it, along with offers from any other groups. Murdoch’s move has dismayed some Journal staffers, to put it mildly, who worry that the paper’s editorial quality and objectivity will suffer under Murdoch’s meddling, much as other Murdoch media buys have suffered. Murdoch, though, seems to have more in mind for this acquisition than just getting control of the Journal. Knowledge at Wharton has asked Wharton management professor Larry Hrebiniak and Joseph Turow, professor of communication at the Annenberg School, for their thoughts on what has to be one of the media’s most closely watched stories.
A transcript of this interview will be available soon.
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