Peter Siris, a columnist for the New York Daily News’ Your Money section and also a money manager, asks in his Wednesday column some pertinent ethical questions about the pending acquisition of Dow Jones & Co., the parent of The Wall Street Journal, by News Corp. CEO Rupert Murdoch.
“His pledge of editorial independence is foolish. The editorial page of The Journal is already on the same page as the political commentary on Fox News Channel. Both are staunchly Republican and heavy-handedly pro-business.
“The deal leads to other interesting questions. Does anyone want to take on Murdoch? Will someone like me, who writes for a competitor of Murdoch’s New York Post, still get interviewed in Barron’s, part of Dow Jones?
“More importantly, will Wall Street analysts at brokerage firms have the guts to post ‘sell’ ratings on Murdoch’s News Corp. when they know it also controls The Journal?”
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