OLD Media Moves

WSJ deal could mean opportunities for rivals

July 18, 2007

Posted by Chris Roush

Other business journalism newspapers and publications could benefit from the uncertainty surrounding the quality of journalism at The Wall Street Journal if it is acquired by News Corp. CEO Rupert Murdoch, writes Advertising Age’s Nat Ives.

The EconomistIves wrote, “‘If people are going to be concerned about the quality and independence of The Journal, that plays quite well for us,’ said Paul Rossi, publisher for North America at The Economist. ‘Do readers look to The Wall Street Journal in a different light, do they start to look for different sources? That could be an opportunity for us. Do advertisers think the market’s changed somehow? That could be an opportunity.’Â

“To be clear, Mr. Rossi and many others don’t believe that Mr. Murdoch would sink $5 billion into buying Dow Jones and then proceed to hurt its sterling reputation in any way. ‘A large part of the value that he’s paying a lot of money for is in the integrity and the quality of the brand,’ Mr. Rossi said. ‘It’s hard to imagine he would do anything to compromise that.’ Media buyers have previously expressed similar views to Advertising Age.

“The Wall Street Journal reported today that News Corp. had reached a tentative deal to buy Dow Jones. No deal can become final unless first the full Dow Jones board and then the company’s controlling Bancroft family each agree to its terms.”

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