On The Seventh Day Of Dow Story, Rupert Rested
While DealBreaker may think that the "Rupert Murdoch desires Dow Jones" story has burned itself out in an orgy of navel-gazing and media self-obsession, well, there's nothing that excites us more! So let's have a quick recap of what people are saying today. The Times looks at the insider trading suit filed yesterday and notes that Dow Jones is "conducting an internal investigation into the actions of David K. P. Li, who is a longtime [Dow] director and a banker in Asia, people involved in the situation said." The Guardian suggests that, whatever the outcome of the proposed takeover, it has caused investors to reevaluate the worth of media properties. The Observer covers the letter-writing campaign from anxious staffers to the Bancroft family and offers an incredibly handy guide to the family itself.
Jon Fine wonders about the decision of Paul Steiger and other Journal editors to sit on the story of the Murdoch bid until CNBC broke it.
As for Murdoch himself, he appeared at an award ceremony last evening where he and fellow Republican Ed Koch (hilarious) were the co-honorees. He made this joke: "There were these two rich guys who walked into the Wall Street Journal. Well, I think I've forgotten the rest, but I believe it had a good ending." Yeah, we don't get it either, though we love its abstract construction—and yet it's still funnier than Pepper... And Salt.
