OLD Media Moves

Bloomberg editor: Murdoch's purchase of WSJ is a good for competition

September 27, 2007

Posted by Chris Roush

Matthew Winkler, the editor in chief of Bloomberg News, said that News Corp. CEO Rupert Murdoch‘s acquisition of The Wall Street Journal, Barron’s and Marketwatch will be good as long as he can enrich the financial news properties he is buying, writes Peter Alford of The Australian.

Matthew WinklerAlford wrote, “Mr Winkler is in charge of Bloomberg LP’s global news operation, which is likely to find itself in even tougher competition with Dow Jones and News Corp as a result of the takeover, particularly in the areas of financial newswires and business television.

“‘It’s not clear what Mr Murdoch is going to do, except that he has said he wants to increase the participation of both the Journal and Dow Jones journalists in his television products, and that could be really invigorating – we’ll see,’ Mr Winkler said in Tokyo yesterday.

“‘I do hope he makes every attempt to make the Journal and the rest of Dow Jones better than it already is, because we sure could use the competition. We need it, and we’d all be poorer if it was diminished in any way.'”

Read more here.

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