Richard Connor, editor and publisher of the Wilkes Barre Times-Leader in Pennsylvania, takes issue with some of the tactics that the Bancroft family have used in negotiating to sell Dow Jones & Co., the parent of The Wall Street Journal, to News Corp. CEO Rupert Murdoch or another bidder.
Connor wrote, “‘The family’ appears to be comprised of a few sane, reasonable folks and then several others who have not had to work for a living. The latter include hypocrites who hide behind a veil of anonymity and will not even allow reporters at their own newspaper to quote them on the record, yet want to criticize Murdoch for lack of transparency.
“They are collectively ringing their hands in public about journalistic integrity when all they really want is money. And in the end, money is what this is all about.”
Later, he added, “I’ve bought a number of newspapers in my day and I’ve also bought a lot of horses. The sellers of each are not much different. ‘What’s really important to us,’ says the person selling a horse ‘is that old Tonto go to a nice home. He’s part of the family. Money is not our primary objective.’
“And that sounds so soothing to the potential buyer who assures the seller he or she has just the right home for a four-legged family member.
“Then they begin talking price and, suddenly, the seller makes it clear the horse will be sold to the highest bidder, good home or slaughterhouse.”
OLD Media Moves
Bancrofts will sell horse to highest bidder
June 10, 2007
Posted by Chris Roush
Richard Connor, editor and publisher of the Wilkes Barre Times-Leader in Pennsylvania, takes issue with some of the tactics that the Bancroft family have used in negotiating to sell Dow Jones & Co., the parent of The Wall Street Journal, to News Corp. CEO Rupert Murdoch or another bidder.
“They are collectively ringing their hands in public about journalistic integrity when all they really want is money. And in the end, money is what this is all about.”
Later, he added, “I’ve bought a number of newspapers in my day and I’ve also bought a lot of horses. The sellers of each are not much different. ‘What’s really important to us,’ says the person selling a horse ‘is that old Tonto go to a nice home. He’s part of the family. Money is not our primary objective.’
“And that sounds so soothing to the potential buyer who assures the seller he or she has just the right home for a four-legged family member.
“Then they begin talking price and, suddenly, the seller makes it clear the horse will be sold to the highest bidder, good home or slaughterhouse.”
Read more here.
Media News
Onanuga joins Yahoo Finance UK as homepage editor
September 7, 2024
Media News
Temperton joins Logic as deputy ME
September 7, 2024
Media News
Upstate Biz Journal unveils redesign
September 5, 2024
Media News
STAT News taps Lawrence to cover the FDA
September 5, 2024
Full-Time
Dallas Morning News seeks a breaking biz news reporter
September 5, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.