NY Times laughably projects its own failings onto Rupert Murdoch’s News Corporation 6/10/07Posted by Steve Boriss in Murdoch, NY Times, Wall Street Journal.
Without a hint of irony, the NY Times scolds Murdoch in a plea to discourage a takeover of the Wall Street Journal (WSJ). Since in the past 5 years News Corp’s stock price has more than doubled, while the NY Times’ has fallen 46%, it’s hard to take the Times seriously when they express doubt that the WSJ’s “news operation will survive” if News Corp acquires it. And the Times’ accusation that Murdoch “reneged on his vow to leave news operations alone” is ironic since “everyone knows that the influence of Times Publisher and CEO Arthur Sulzberger Jr. extends to selecting not merely the editorial page editor but columnists, political endorsements and, as far as we can tell, even news coverage priorities,” according to the WSJ. Morgan Stanley, which is leading a stockholder revolt to wrest control of the Times from the Sulzberger family, could do worse than to use Jr’s quotes as supporting arguments at the next stockholder meeting.