More on the Fate of Barron's Under Murdoch
The New York Times today has an article on the fate of Barron's under the almost (but not quite) certain News Corp. acquisition. This was a good and thorough article, as evidenced by the fact that it quoted a blog item on the conspicuous absence of Barron's from the debate over the Murdoch bid.
But I have a quibble with the reporter's analysis.
After observing that Barron's editors are not covered by the "editorial independence safeguards" to which both parties agreed, the Times says:
Ultimately, market forces may be a better safeguard than special agreements. The publication is doing very well, and Mr. Murdoch is first and foremost a smart businessman — as recognized by Barron’s list in March of the top 30 chief executives.I think that misses the point. No one is suggesting that Barron's is going to be dismembered. Its staff may even be beefed up. However, I think there is a good chance that Barron's editorial product will be the first true outpost of Murdoch in the Dow empire.
That's also likely for MarketWatch, is similarly is not covered by the agreement.
The Bancroft family is meeting today. Given the pressures being brought to bear, I'd say the chances of Dow Jones surviving as an independent entity are fast evaporating. R.I.P.
© 2007 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
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