ABC: 'Is Murdoch taking over the world?'

David Edwards and Will Menaker

Published: Wednesday July 18, 2007 Print This Email This

What do you get for the media tycoon who has everything? In Rupert Murdoch's case it would be another "crown jewel" in his already immense media empire. Wednesday's Good Morning America reports on the overnight deal that would add the Dow Jones co. into the Newscorp. fold.

Murdoch appears to be "days away" from completing the $5 billion deal that would land him the prestigious Wall Street Journal. In many ways, the Journal is the "complete antithesis" of Murdoch's most famous newspaper, The New York Post.

Why would Murdoch care about one newspaper amid a global media empire? "Instant credibility", says Dennis Kneale, managing editor of Forbes, who points out the "nameplate" recognition of the Journal.

While Murdoch insists he will have no editorial control of the paper, others balk at this idea. Ken Auletta of The New Yorker echoes the fears of many on the Journal staff about Murdoch's "fair and balanced" track record stating, "his editorial views, political views, and commercial interests bleed into the ways stories are covered."

The following video is from ABC's Good Morning America, broadcast on July 18.



