Murdoch Moves Recalled: Will Dow Jones Fare Better?

Teaser: 
Poynter Institute distinguished fellow and CCJ trainer Gregory Favre recalls what it felt like to have Rupert Murdoch buy his newspaper, and speculates about what might be in store for Wall Street Journal staff.
Source: 
http://www.poynter.org/column.asp?id=71&aid=127691
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In an August 1, 2007 article on the Poynter Institute website, CCJ trainer and Poynter Institute Distinguised Fellow Gregory Favre recounts the feeling he shared with colleagues at the Chicago Sun-Times 23 years ago when they learned that Rupert Murdoch had bought the newspaper. Favre writes that Murdoch left the Sun-Times a shell of its former self, and hopes better for the Wall Street Journal and its staff. Favre writes: I know the feeling. What feeling, you ask? That sickening ache in your belly when you hear the news: Rupert Murdoch has bought your newspaper. Been there, felt that, choked down the sadness and, as dozens of others did at that time, moved on to a new job. It all happened about 23 years ago when the Field brothers, Marshall and Ted, sold the Chicago Sun-Times to Murdoch. This marked the first step in the decline of what was an excellent newspaper, even though many wonderful journalists stayed on and a number are still there. (A sidebar: Later in its history, the Sun-Times was owned by Conrad Black. Murdoch and Black -- now that's an exacta with 1,000 to one odds on the journalism values tote board).I am sure many in the newsrooms at The Wall Street Journal and Barrons and the Ottaway papers are feeling the same pain that so many of us felt back then. Chicago was an incredible place to practice journalism. It was as competitive, if not more so, than any market in the country. A truly great news town. And the Sun-Times, a serious tabloid, was crawling closer and closer to the the Chicago Tribune in circulation. But it hasn't been like that since.I remember the first visit Murdoch made to the Sun-Times newsroom after the announcement. A few of us met with him for a little Q and A. I asked: How are we going to attract the high-end advertisers, as we have started doing, if you go low-end with the paper? He answered that was not a concern, that when the circulation figures rose, the cash register would ring. I thought then, he doesn't understand Chicago readers. Then later I met with him at his office in the New York Post. I was managing editor of the Sun-Times, and he wanted to talk with me about staying on as executive editor. It was a long meeting, but we exchanged very few words. He spent most of the time on the phone with one of his investment people, buying stock in some company he had targeted......my Poynter colleague Rick Edmonds and others predict that Murdoch will behave himself and won't wreak havoc at the Journal, suggesting that he can't afford to trash it and that we can expect more investment and more innovation. I hope they are right. The Journal -- with the exception of the editorial pages -- ranks with the best newspapers anywhere. It would be a sin if it didn't maintain that excellence... Click here to read Favre's article in its entirety on the Poynter Institute website.