Tuesday, July 31, 2007

Dow Jones to Be Purchased By Murdoch

Rupert Murdoch who owns News Corp, the parent company of Fox News, has won his bid to purchase the Dow Jones Company.
Dow Jones & Co. Inc.'s controlling Bancroft family "has accepted" News Corp.'s $5 billion offer to buy the publisher of The Wall Street Journal, an executive of a Dow Jones unit said Tuesday.

"The Bancroft family has accepted," John Prestbo, editor and executive director of Dow Jones Indexes, told reporters on Tuesday in Chicago. "Dow Jones will be part of News Corp" he said.
This is disastrous news for our country. Will the Wall St. Journal become as much of a propaganda arm of the Republican party as Fox News? The Wall St. Journal is the most prestigious daily business publication in our nation. Will the editorial content be subject to right wing propaganda? I expect it will become as "fair and balanced" as Fox News. It is time to put legislation in place that stops one company from owning so much of our media. This is indeed very troubling news.

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