Former Wall Street Journal managing editor Paul Steiger, who was criticized for not speaking out against News Corp. CEO Rupert Murdoch‘s offer to buy the paper’s parent company, Dow Jones & Co., said at the Asian American Journalists Association annual meeting that he was conflicted, but felt he needed to keep quiet.
San Jose Mercury News business columnist Vindu Goel wrote, “Despite pressure onÂ Steiger to publicly oppose the deal as the Journalâ€™s elder statesman, heÂ said he didnâ€™t speak outÂ for several reasons. Given his deep involvement in coverage of the deal, any public comments would have beenÂ ‘totally inappropriate.’
“In addition, he said, ‘I just wasnâ€™t convinced that acquisition by Rupert Murdoch was the worst outcome.’
“Indeed,Â Dow Jones didnâ€™t have much choice.Â ‘Really, the only alternative to Rupert was to go it alone.’
“‘That was always my preferred alternative,’Â Steiger said. But once Murdoch made his offer public andÂ the controlling Bancroft family announcedÂ that it would entertain bids for the company,Â ‘the toothpaste was out of the tube.'”
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