Jeff Bercovici of Conde Nast Portfolio has his own take on why Fox Business Network has been filing so many Freedom of Information requests and lawsuits against government agencies to get documents related to the economic meltdown.
Bercovici writes, “Now, nobody’s saying it wouldn’t be nice to know how Madoff was able to run his racket for so many years without ever arousing the suspicion of authorities. But Madoff isn’t the cause of our economic distress; he’s a symbol.
“And that’s what this legalistic blitz by Fox Business is all about: symbolism. In fact, according to CJR, the network, lacking the reportorial resources to make much sense of the thousands and thousands of pages of documents it’s demanding, has no better plan than to put them all online and hope the internet hive-mind can ferret out the good stuff.
“Magee insists the FOIA-palooza isn’t just some ‘wild publicity stunt,’ but acknowledges it’s part of an overall strategy to different FBN from CNBC, which he calls ‘the friend of the CEO.’ But it’s hard to see how Fox can exploit the perception that its rival is in bed with Wall Street while studiously refusing to condemn Wall Street. There’s too much anger out there to redirect it all at negligent referees.”
OLD Media Moves
The Fox Biz legal strategy: blame the government
March 23, 2009
Jeff Bercovici of Conde Nast Portfolio has his own take on why Fox Business Network has been filing so many Freedom of Information requests and lawsuits against government agencies to get documents related to the economic meltdown.
Bercovici writes, “Now, nobody’s saying it wouldn’t be nice to know how Madoff was able to run his racket for so many years without ever arousing the suspicion of authorities. But Madoff isn’t the cause of our economic distress; he’s a symbol.
“And that’s what this legalistic blitz by Fox Business is all about: symbolism. In fact, according to CJR, the network, lacking the reportorial resources to make much sense of the thousands and thousands of pages of documents it’s demanding, has no better plan than to put them all online and hope the internet hive-mind can ferret out the good stuff.
“Magee insists the FOIA-palooza isn’t just some ‘wild publicity stunt,’ but acknowledges it’s part of an overall strategy to different FBN from CNBC, which he calls ‘the friend of the CEO.’ But it’s hard to see how Fox can exploit the perception that its rival is in bed with Wall Street while studiously refusing to condemn Wall Street. There’s too much anger out there to redirect it all at negligent referees.”
Read more here.Â
Full-Time
Star Tribune seeks a business editor
May 3, 2024
Full-Time
Newsday seeks a deputy AME for biz coverage
May 3, 2024
Media News
CNBC.com promotes two news staffers, hires one
May 3, 2024
Full-Time
Newsday seeks a reporter to cover commercial real estate
May 3, 2024
Full-Time
NY Times seeks a business feature and beat reporter
May 3, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.