Dow Jones: The Murdoch Era Begins

Includes: DJ, NWS
by: Felix Salmon

Rupert Murdoch does not, yet, officially own Dow Jones. But he clearly controls it, all the same. Today, the day that Rupert's new business channel launches in head-to-head competition with CNBC, Dow Jones's websites have decided to pull all CNBC's advertising. As Jeff Bercovici says,

A spokesman for Dow Jones, which owns both sites, declined to comment to the Times on the decision, but if you suspect Rupert Murdoch of pulling the levers on this one, award yourself a cookie.

Meanwhile, Brad DeLong is noting signs of sense on the WSJ editiorial page, and ascribing that to Murdoch, too:

Most of it is Rupert Murdoch signalling that the Wall Street Journal editorial page can now be rented: that it won't be the knee-jerk slave of the Republican extreme anymore, and that people who want its support (within reason) should start offering him bids.

Brad doesn't mean this literally, and he's not talking about corporate lobbying, he's talking about politicians. Rupert Murdoch's newspapers tend to support those politicians who act in Rupert Murdoch's best interests, and it's possible that the WSJ editorial page will move in that direction from its erstwhile wingnuttery.

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