Investor's Business Daily slams Murdoch-phobia

Investor’s Business Daily slammed in an editorial posted on its web site Wednesday what it called the business media’s “Murdoch-phobia” coverage surrounding News Corp. CEO Rupert Murdoch‘s bid to acquire Dow Jones & Co., the parent of The Wall Street Journal, and now a potential competing bid.

The editorial stated, “A press baron who putatively leans right bids for the Wall Street Journal, and the media tut. A tycoon who has no experience in the industry but has a leftward bias gets involved, and the press sees a savior.

“The media response to Rupert Murdoch’s $5 billion offer for Dow Jones & Co. was leftist elitism at its best. Editor & Publisher explained last week that ‘much of organized journalism recoils in horror from Rupert Murdoch’s latest business gamble.’ A reasonable person sees a successful media giant in Murdoch, but the press shudder that a right-winger might sully that grand business publication with his brand of journalism the way he has the London Times and New York Post.

“Columnist Norman Solomon summed up media fears when he worried that a Murdoch purchase following recent design changes at the newspaper ‘could provide a tidy framework for spreading the content of the editorial page to the rest of the newsprint pages.'”

Read more here.