Murdoch Grab Of Dow Jones PR Feat

 What Rupert wants Rupert gets. There was an air of inevitability to Rupert Murdoch’s pursuit of Dow Jones. He did not so much woo the Bancroft family as play a very public game in which stockholders and stakeholders, all of us who depend on the Journal and other Dow properties for financial news, were his target. He came in high and hard with a bid that was a huge premium over the stock price and he made a convincing argument why this would be a solid deal.  

Now that he has secured the prize, expect Murdoch to first concentrate on an upgrade to Dow Jones Newswires, a business he wants to “aggressively” develop, before messing with the print Journal.  Fox Business News is expected to launch next month. An agreement with CNBC precludes Journal staff from appearing on other TV news shows but Murdoch has displayed a facility in the past for circumventing such agreements. Murdoch has said that he will invest in Dow digital properties. Hopefully, that will lead to a much needed overhaul of the Journal website with new social media tools and better organization and presentation. 

We think this is a great deal that will lead to the modernization of a stale media property that has been treated for too long as a precious ‘public trust.’ 

Comments

  1. Mark, glad to see you’re one of the first PR bloggers to post on this significant development in the media landscape — one that all PR professionals should be considering. I’ve linked back to you and Todd Defren (the only other PR blogger whose WSJ-Murdoch post I’ve seen) at tinyurl.com/27hmj3 and issued an invite to PR bloggers to comment and post any thoughts and insights. BR, MT

Trackbacks

  1. [...] subject with his post, WSJ Sale to News Corp. – A Failure of Vision?, as well as Mark Rose’s Murdoch Grab Of Dow Jones PR Feat. To Todd and Mark, for having been so bold as to be the first to consider and comment, I say [...]

  2. [...] I agree with Todd Defren, there simply was no vision. Now Murdoch has all the content and perhaps the vision for delivery. Only time will tell if the new entity can make themselves relevant again in a world of [...]

  3. [...] have been some solid posts concerning the buyout, some folks who are really bummed about it, and one comment I thought was [...]

  4. Murdoch, Dow Jones, High-Tech Stealth Submarines…

    But what do I think? Let’s just say I’m not going to join in the weeping, wailing, and gnashing of organic baked brie over whether The Wall Street Journal will get “Fox-ified”….

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