Jack Morton writes in American Journalism Review that the people critizing News Corp. CEO Rupert Murdoch for changing The Wall Street Journal just can’t comprehend his strategy.
“Indeed, Murdoch’s investment in the traditional newspaper business has brought criticism on Wall Street, whose analysts continue to believe that the $5.2 billion he paid for Dow Jones was too high. This just shows how much smarter he is than Wall Street analysts, who tend to value business strictly based on profit-and-loss statements.
“Murdoch understands that the real value of Dow Jones and the Journal resides in the information they produce and their brand names.”
Read more here.
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