Eric Alterman writes in The Nation that News Corp. CEO Rupert Murdoch‘s ownership of The Wall Street Journal will be a “poisoned chalice.”
Alterman wrote, “The news pages in the Wall Street Journal are about the smartest and bravest of any newspaper in America. Some people, like Dow Jones CEO Richard Zannino, enjoy stock holdings that offer roughly 20 million good reasons to believe that such journalism can continue unimpeded within the Murdoch empire. But the rest of us might as well believe in Peter Pan.
“Alas, this very quality makes the edit page a perfect fit for the Murdoch modus operandi, so it comes as no surprise that Murdoch says he loves it–or that Fox News scooped up its taxpayer-funded talking-heads program, which failed so miserably to find an audience when Bush Administration operatives foisted it on PBS. The silver lining of this takeover is that when Murdoch destroys the credibility of the Journal–as he must if it is to fit in with his business plan–he will be removing the primary pillar of the editorial page’s influence as well. In this regard his ownership is a kind of poisoned chalice.”
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