Conde Nast Portfolio’s “Jack Flack“ argues that the ad that appeared in The New York Times, Wall Street Journal and other newspapers heralding News Corp. CEO Rupert Murdoch‘s acquisition of Dow Jones & Co., the Journal’s parent, is a clever way for the company to rewrite its history from being a bully to being a company that defies conventional wisdom.
Flack wrote, “This may all seem like a big stretch for long-time Murdoch watchers. But consider yourself warned — if told with conviction, discipline and in close connection to visible actions, the Desired Future Story can be quite effective, harnessing the formidable power of the dynamic best-known as the ‘self-fulfilling prophecy.’
“And keep in mind, the acquisition of the Journal gives Murdoch a big opportunity to generate a huge number of highly visible plot points designed to challenge the conventional wisdom that (a) newspapers are a losing investment and (b) Rupe takes everything down-market.
“That seems a bit manipulative, and it may well be. But the end effect will be that the Wall Street Journal will get bigger and better.
“And so will Rupert Murdoch’s image.”
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