The WSJ and Murdoch

Just in case you haven't been paying attention, I want to call your attention to an article entitled "Murdoch: Bad for Journalism, Bad for Democracy". Here's how it gets started:

Today’s news [August 1, 2007] that the Bancroft family has agreed to News Corp.’s $5 billion dollar buyout offer for Dow Jones, is a powerful reminder of how media consolidation is constantly eroding the foundational structures of our democracy. America’s founders understood that a truly free press — enlivened by diverse perspectives and beholden to the public interest — is the keystone to a flourishing democracy. With the purchase of the Dow Jones Co. and its flagship Wall Street Journal another vital voice is brought under the umbrella of one conglomerate — and one man — that already controls too much of what Americans see, hear and read every day.

Since Rupert Murdoch’s offer was made public, volumes have been written on what this historic deal might mean to journalism in America. A fair bit of the criticism and concern surrounding News Corp.’s bid for Dow Jones has focused on Murdoch himself and his well-documented penchant for employing his media outlets to advance his personal and business interests.

The Wall Street Journal is regarded as a bulwark of journalistic independence, seen by many as one of the most reliable sources of business news and a critical watchdog of corporate behavior. With less and less hard news being covered by the corporate media, newspapers like the Journal hold a powerful place in American society, helping to shape the national news agenda. Murdoch’s influence over editorial policy at the Journal will have profound effects on what we see and hear on the news. Those concerned about the journalistic independence and editorial integrity at the Journal have good reason to be worried.

Very troubling. The Wall Street Journal is right wing enough as it is. With Murdoch in charge it's going to be more like Fox News, I'm afraid.