Former BusinessWeek staffer Gary Weiss writes Saturday that if the magazine is purchased by Bruce Wasserstein, as favored by the staff members, it poses some interesting conflict issues.
“Now, I suppose that one could argue that conflict of interest concerns don’t always add up to much in the media business. Remember all the furor about Rupert Murdoch owning the Wall Street Journal? Big outcry, ‘safeguards’ adopted. Hah! It now has Rupe’s thumbprint and nobody gives a damn.
“Back in ’92, Worth magazine was started by Fidelity mutual funds. Initially there was a flurry of concern, but it faded away, and Worth was accepted as an established personal finance magazine. But then the magazine had to be sold off because of a conflict of interest with Fidelity’s growing financial services unit.”
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