Wall Street Journal Welcomes Murdoch
Today’s WSJ has an editorial welcoming its takeover by Murdoch’s News Corporation. Granted, there are some subtle warnings to Murdoch buried in the gushing words about the inevitability of change, and the powers of “creative destruction”. Thus:
Editorial independence enhances the prospects for business success. The more credible a publication is, especially one that specializes in financial and economic reporting, the more readers and advertisers it is likely to have. We like to think our readers buy the Journal because of the credibility built over a century, and we believe this is the heart of the “value proposition” that Mr. Murdoch is willing to pay $5 billion to purchase. No sane businessman pays a premium of 67% over the market price for an asset he intends to ruin.
But overall, the entire piece had a tone that reminded me of a classic scene from the Simpsons. And, thanks to Youtube, I can now share it with you.