Murdoch's Newsday Deal Prompts Outcry

April 24, 2008 04:02 PM
by findingDulcinea Staff
Rupert Murdoch's media empire already includes The New York Post and The Wall Street Journal, which alone are too much for one man in some estimations.

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The $580 million deal is not yet final, with some details still under negotiation and other bidders expected to make counteroffers.

Murdoch’s purchase of yet another large New York newspaper, which also has the tenth-largest weekday circulation in the country, may also face national and New York anti-trust law barriers. Free Press, a media reform organization, denounced the purchase as putting "too much power in too few hands."

Murdoch’s News Corporation would run Newsday as a joint venture with The New York Post, saving millions of dollars in production costs, and placing the financially struggling New York Post on a much better footing to compete with its rival, The Daily News.

The Newsday deal became public just a day after the managing editor of The Wall Street Journal, Marcus Brauchli, resigned from his position.

Ever since News Corp. purchased the Journal in December 2007, Brauchli had been the mediator between those who say they wanted to preserve the character of the paper, and Murdoch’s plans to revamp it through various changes in style and content.

In a memo to co-workers, Brauchli said, “I have come to believe the new owners should have a managing editor of their choosing.

The New York Observer writes, “When Mr. Murdoch takes over a newspaper, he doesn’t take much time to get things done. It can look slow at first—the preparations for war are often quiet, faraway strategic affairs involving a rather small magic circle, after all. But when it starts, it’s Shock and Awe.”

Headline Links: Newsday slated for sale to News Corp., editor of WSJ resigns

Background: Murdoch’s reach

Video: The debate on media ownership

Opinion & Analysis: On the newspaper tycoon and media conglomerates

Biography: Rupert Murdoch (1931-)


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