Richard Perez-Pena of The New York Times writes for Thursday’s paper that for many Wall Street Journal journalists, the decision between whether its parent company Dow Jones & Co. is sold to News Corp. CEO Rupert Murdoch or a joint bid by CNBC parent General Electric Co. and Financial Times parent Pearson comes down to “trash or slash.”
Perez-Pena wrote, “‘If you put a gun to my head, I’d take Murdoch over G.E.-Pearson,’ said a senior editor at The Journal who declined to be identified because the deal is not complete. This editor reasoned that the G.E.-Pearson deal would mean immediate cuts and deteriorating quality, while a Bancroft family deal struck with Mr. Murdoch might hold off fundamental change for a few years.”
Later, Perez-Pena added, “‘I think our history shows that we value and nurture the things that make our acquisitions unique, and we don’t slash and burn,’ said a G. E. executive who spoke on condition of anonymity because he was not authorized to discuss the matter. ‘But obviously, a lot of the strategic value in this would be in consolidation.'”
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