I’ve been out for a while enjoying the stresses and joys of a growing family.
It looks like there’s also some growth going on in Rupert Murdochs corporate family. It looks like Rupert has all but sealed the deal to purchase Dan Jones. There’s a great MSNBC article here.
As a small business owner and entrepreneur, one of the first questions I ask myself when I see a move this is, “Why?” Why does Mr. Murdoch really need to own the business news giant? Although the Bancroft family has long said they wouldn’t give in to Rupert’s questionable motives, a stock price 65% above posted price was helpful to change their minds. Rupert Murdoch is currently the 32nd richest man in America… but his motives could go far beyond his eg0-sized Manhattan apartment.
Rupert’s company, News Corp, has recently made significant headway in China. Home the largest and fastest growing middle class in the world, this communist-capitalist society has a very long (and censored)journalism history. Murdoch’s alleged business biases are no concern for this awakening country. As News Corp. prepares to enter this reliable financial information vacuum, a name that carries the longevity and responsibility of the Walls Street Journal would provide the perfect platform for swift and deep market penetration.
This could certainly become a lot of centralized influence in our growing society. The jury is still out on whether or not Rupert will keep things unbiased. History is a great indicator of future performance and absolute power can corrupt absolutely. But who knows, maybe this media mogul will prove us wrong once again… We’ll have to see.