I confess, stocks and bonds, the Dow Jones Industrial Average, bears and bulls. . .it's a foreign language to me. I've had smart people try to explain it to me, but I just don't understand it.
I don't have to be a financial genius to understand this one though: Rupert Murdoch owning the Wall Street Journal and Dow Jones is a bad thing. This modern-day William Randolph Hearst (without the cool house and Hollywood mistress) tarnishes everything he touches. The New York Post was once a respected newspaper. Rupe's version is only slightly above the now defunct Weekly World News in credibility. FOX "News" is seen by most sane people to be barely more than a subsidiary of the Republican Party.
It doesn't bode well. And since I am out of my depth when it comes to the details of why this is bad for America (just a gut feeling, like Michael Chertoff), I'll give you a taste from somebody who knows.
[Excerpt]
Murdoch: Bad for Journalism, Bad for Democracy
Today's news that the Bancroft family has agreed to News Corp.'s $5 billion dollar buyout offer for Dow Jones, is a powerful reminder of how media consolidation is constantly eroding the foundational structures of our democracy.
America's founders understood that a truly free press -- enlivened by diverse perspectives and beholden to the public interest -- is the keystone to a flourishing democracy. With the purchase of the Dow Jones Co. and its flagship Wall Street Journal another vital voice is brought under the umbrella of one conglomerate -- and one man -- that already controls too much of what Americans see, hear and read every day.
When is Enough, Enough? Since Rupert Murdoch's offer was made public, volumes have been written on what this historic deal might mean to journalism in America. A fair bit of the criticism and concern surrounding News Corp.'s bid for Dow Jones has focused on Murdoch himself and his well-documented penchant for employing his media outlets to advance his personal and business interests.
Read more at: HuffingtonPost.com
I don't have to be a financial genius to understand this one though: Rupert Murdoch owning the Wall Street Journal and Dow Jones is a bad thing. This modern-day William Randolph Hearst (without the cool house and Hollywood mistress) tarnishes everything he touches. The New York Post was once a respected newspaper. Rupe's version is only slightly above the now defunct Weekly World News in credibility. FOX "News" is seen by most sane people to be barely more than a subsidiary of the Republican Party.
It doesn't bode well. And since I am out of my depth when it comes to the details of why this is bad for America (just a gut feeling, like Michael Chertoff), I'll give you a taste from somebody who knows.
[Excerpt]
Murdoch: Bad for Journalism, Bad for Democracy
Today's news that the Bancroft family has agreed to News Corp.'s $5 billion dollar buyout offer for Dow Jones, is a powerful reminder of how media consolidation is constantly eroding the foundational structures of our democracy.
America's founders understood that a truly free press -- enlivened by diverse perspectives and beholden to the public interest -- is the keystone to a flourishing democracy. With the purchase of the Dow Jones Co. and its flagship Wall Street Journal another vital voice is brought under the umbrella of one conglomerate -- and one man -- that already controls too much of what Americans see, hear and read every day.
When is Enough, Enough? Since Rupert Murdoch's offer was made public, volumes have been written on what this historic deal might mean to journalism in America. A fair bit of the criticism and concern surrounding News Corp.'s bid for Dow Jones has focused on Murdoch himself and his well-documented penchant for employing his media outlets to advance his personal and business interests.
Read more at: HuffingtonPost.com
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