"Why would I spend $5 billion for something in order to wreck it?"Sheer fucking EGO, perhaps?
- Rupert Murdoch
Wall Street Journal reporters across the country chose not to show up for work today, citing threats to their independence and credibility. If Murdoch get's the Journal, its share price may rise but its reputation will immediately drop. So what will he really gain?
The NYT reports that Rupert Murdoch is now poised to gain control of the WSJ editorial as well as the paper. Here's Murdoch's business plan:
On his plans for the Journal: "What if, at the Journal, we spent $100 million a year hiring all the best business journalists in the world? Say 200 of them. And spent some money on establishing the brand but go global … and then you make it free, online only. No printing plants, no paper, no trucks. How long would it take for the advertising to come? It would be successful, it would work and you’d make … a little bit of money."But don't worry, folks, the Murdoch Journal won't be biased! Right, Rupert?
"CNN is pretty consistently on the left, if you look at their choice of stories, what they play up. It’s not what they say, it’s what they highlight … and if you look at our general news, do we put on things which favor the right rather than the left? I don’t know … we don’t think we do. We’ve always insisted we don’t. I don’t think we do. Aw, it’s subjective. Neither side admits it."CNN consistently on the left? Is he joking? Sadly, I don't think so.
But hopefully Murdoch was joking when he said this:
"When the Journal gets its Page 3 girls, we’ll make sure they have MBAs."