Categories: OLD Media Moves

Murdoch explains importance of Dow Jones deal

News Corp.Â CEO Rupert Murdoch explained the importance behind acquiring Dow Jones & Co., the parent of The Wall Street Journal, in the company’s annual report, according to a story by Nick Tabakoff in The Daily Telegraph, an Australian newspaper.

Tabakoff wrote, “‘There has been an understandable focus on The Wall Street Journal, the world’s pre-eminent business newspaper,’ Mr Murdoch says.

“‘But Dow Jones has a plethora of prestigious brands and a range of content that will provide us with a remarkable opportunity to take advantage of the two most profound social and economic trends of our age, globalisation and digitisation.’

“Part of this opportunity was created by the mix of the ability of the WSJ to lock in paid online users and the international distribution platforms of NewsÂ Corp, parent of News Ltd, which publishes The Australian newspaper and NEWS.com.au.

“‘The relative success of WSJ.com in attracting paying customers is evidence that business readers will purchase need-to-know information, but how much more influential will Dow Jones content become, for example, if it is linked directly to our television networks in India, Europe and elsewhere in the world?'”

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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.