Categories: OLD Media Moves

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

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 MarketwatchÂ will be good as long as he can enrich the financial news properties he is buying, writes Peter Alford of The Australian.

Alford 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.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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John R says:
September 28, 2007 at 7:55 am
If Mr. Murdoch gets real serious with WSJ and Marketwatch as I think he is - we might see a great duel between them on land and in the cyberworld. It will be interesting and the winners will be the readers.
Good luck to both of them.