Jonathan Berr writes on the BloggingStocks.com web site that he won’t be said if the Bancrofts sell Dow Jones & Co., the parent of The Wall Street Journal, to News Corp. CEO Rupert Murdoch or another bidder because at least the new owners will show an interest in the paper.
“About the smartest move the Bancrofts have done recently was to name Richard Zannino as Chief Executive. But even Zanino can’t wrap Dow Jones in bubble wrap to protect it from the changing media enviornment. Media reports indicate that he is taking a neutral stance on Murdoch’s $5 billion offer but I wonder if he’ll stick around if the deal collapses.
“Still, a Murdoch-owned Wall Street Journal won’t be that different from the paper my colleague Peter Cohan dubbed ‘The Towel.’ The Australian tycoon doesn’t want to go down in history as the person who ruined the paper. That title rightly belongs to the Bancrofts.”
Read more here.
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