Showing posts with label Wall Street Journal. Show all posts
Showing posts with label Wall Street Journal. Show all posts

Wednesday, July 20, 2011

Conrad Black on Murdoch


Before the hacking scandal devolved into humble pie antics today, the pink paper rival to NewCorp's Wall Street Journal ran this piece by another fallen media mogul, Conrad Black, entitled "Taking the measure of Rupert Murdoch". Worth reading

Conrad Black,wrote in The Financial Times, on 15 July:


Rupert Murdoch is probably the most successful media proprietor and operator in history. There is no possible argument about his boldness, vision and skill of execution in conquering the British tabloid market, leading vertical media integration by uniting film studios and television stations, cracking the U.S. television triopoly, being one of the great pioneers of satellite television and founding a conservative-populist American news network. It must also be admitted that The Wall Street Journal is the only quality product Mr. Murdoch has ever bought and actually improved.

He was sometimes very fortunate, especially when Margaret Thatcher exempted his satellite telecasting from regulation (though she was just repaying the favours of The Sun); that his bid for MGM was unsuccessful just before his near-mortal financial crisis in 1990; and that British Satellite Broadcasting was so ineptly managed by Granada and others that it collapsed into his arms 20 years ago. But luck is a small part of the explanation for his success.

It is unlikely that Mr. Murdoch, his son James, or Les Hinton committed crimes (Mr. Hinton is a very decent man). Discerning people should not be impressed by the process familiar to me and other victims of it, of hostile media solemnly citing law professors and retired prosecutors and sources who spoke on condition of anonymity (usually tendentious fantasies of the journalists themselves), to comment on the Murdochs' legal problems. No one should begrudge The Guardian, the BBC, CNN, The New York Times and others their fun at his expense, nor take it too seriously. He is, as Clarendon said of Cromwell and the British historian David Chandler updated to Napoleon, "a great bad man." It is as wrong to dispute his greatness as his badness.

Murdoch-bashing has, until very recently, generally been a disreputable activity, chiefly engaged in by the envious, the far-left and the commercially uncompetitive, all almost incapable of disinterested comment -but not always. It is, on this subject at last, a time for truth. For decades Britain's establishment professed to despise Mr. Murdoch but appeased and grovelled to him, ("I thoroughly disapprove of Rupert, but I quite like him," was the tedious refrain), as when it became clear that most of opinionated London expected him to prevail over The Daily Telegraph in the price war that he launched in 1993. It is a matter of some pride to those of us at the Telegraph then that he did not. As I commend a robust response to the British, I shall not practise unilateral verbal disarmament myself.

It would be astonishing if some News International employees had not engaged in crimes, revelling in the climate of immunity that has been the group's modus operandi for decades. Successive U.K. governments of both major parties supinely truckled to him. The more vituperatively his titles slagged off the Royal family, the more certain were their books to be excerpted in The Sunday Times.

Although his personality is generally quite agreeable, Mr. Murdoch has no loyalty to anyone or anything except his company. He has difficulty keeping friendships; rarely keeps his word for long; is an exploiter of the discomfort of others; and has betrayed every political leader who ever helped him in any country, except Ronald Reagan and perhaps Tony Blair. All his instincts are down-market; he is not only a tabloid sensationalist, he is a malicious myth-maker, an assassin of the dignity of others and of respected institutions, all in the guise of antielitism.

He masquerades as a pillar of contemporary, enlightened populism in Britain and sensible conservatism in the United States, though he has been assiduously kissing the undercarriage of the rulers of Beijing for years. His notions of public entertainment and civic values are enshrined in the cartoon television series The Simpsons: All public officials are crooks and the public is an ignorant lumpenproletariat. There is nothing illegal in this, and it has amusing aspects, but it is unbecoming of someone who has been the subject of such widespread deference and official preferments.

As it happens, I don't see much practical difference to the public interest between his present effective control of British Sky Broadcasting (BSkyB) and his complete ownership of it. If, but only if, News Corp. is reasonably found guilty of institutional criminality -and the potential accused deserves the presumption of innocence (however rarely it has accorded it to others) -its satellite telecasting licence should be revoked.

Before Wednesday's withdrawal of News Corp.'s bid to take full control of BSkyB, I believed that if it was just a matter of a few journalists bribing a few police officers and hacking promiscuously, the authorities should slap their wrists and let the deal happen. That was a sideshow. Spiteful regulatory intrusion is not what was needed, and would only have resulted in another of Rupert's whitewashes and a renewed bid at a lower price.

What matters is the recovery of the integrity of Britain's governing elites. There must be a reckoning with decades of establishment cowardice towards someone whose nature has been well known throughout that time. The fault is the British establishment's and it must not be seduced and intimidated, so profoundly and durably, again.

Wednesday, July 9, 2008

Melodramatic Murdoch style lowers reporting accuracy at Wall Street Journal


The Murdoch effect is already visible at the Wall Street Journal, if the latest hyperventilating article from reporter Bob Davis about the Erez crossing into Gaza is typical of the new corporate tone. His writing's more suited to a middle level college's student rag than for the informed readership of the venerable WSJ. Arrgh. A savvy McClatchy group blogger, Dion Nissenbaum, noted a distinct dip in quality, too, but observed that it was, after all, the guy's "first real reporting trip to the Gaza Strip".
His piece ended up revealing much more about his own misconceptions than it did about Gaza...Davis leaves millions of readers with the misconception that all Palestinians in Gaza are dangerous, conniving would-be terrorists waiting for the right opportunity to snatch Westerners and cut off their heads.


For some reason, Davis's fevered (and uninformed?) imagination conflates walking through a protected international crossing that is crawling with security with the ordeal of Wall Street Journal reporter Daniel Pearl, who was grabbed in the back lanes of Karachi, Pakistan, and eventually beheaded.
Different circumstances, different country. Hamas is not Al Qaeda. There have been no abductions of Westerners for more than a year, and the strip is under a negotiated ceasefire at the moment. But heh, these non-English speaking Muslims scare me, guys. Nudge nudge. Mind you, the Davis travesty was published in the travel section, where veracity is not the point.
But this is a heads up about the direction the Wall Street Journal is headed.

Tuesday, May 20, 2008

Murdoch makes changes at the top


The Guardian reports the inevitable: Aussie Robert Thomson, formerly of the Times, has been named top editor of the Wall Street Journal (as Feral Beast sources predicted.)

The former Times editor Robert Thomson was named managing editor of the Wall Street Journal last night as Rupert Murdoch tightened control of the world's top selling business newspaper.

Thomson's new role is the top editorial position at the Journal. He replaces Marcus Brauchli, who quit last month amid signs of discontent over the speed of change at the paper since it was taken over by Murdoch's News Corporation in December.

News Corp said the appointment had the unanimous approval of a committee set up to safeguard editorial independence of the Journal. The committee objected to a lack of consultation when Brauchli resigned.

"Mr Thomson's outstanding career as a financial journalist, foreign correspondent and editor equips him perfectly for the position," Murdoch said.

Thomson, 47, is an Australian compatriot of Murdoch and he has been a loyal lieutenant of the press baron for six years. At the end of last year, he moved from London to become publisher of the Journal. His new role gives him formal control of its newsroom which, according to the paper's journalists, he was effectively overseeing anyway. He will also be editor-in-chief of Dow Jones' newswires service.

Murdoch's $5.2bn takeover of the Dow Jones group was highly contentious throughout last year as the Journal's founding Bancroft family struggled to agree on whether to sell up.

Since the deal was sealed, Murdoch has made clear that he wants the paper to diversify away from its business roots to compete with mainstream publications such as the New York Times. A sports page has appeared and there are plans for a glossy magazine.

Thomson can boast a depth of experience in business coverage. Before joining the Times in 2002, he headed the US edition of the Financial Times. He has also served as a correspondent in Beijing and Tokyo, having begun his career as a copy boy at the Herald in Melbourne in 1979.

Murdoch has wasted little time in inserting handpicked people to run the Journal. Les Hinton, a former boss of Murdoch's UK papers, is now chief executive of Dow Jones.

In an attempt to rebuild bridges with the editorial committee formed as a condition of News Corp's takeover, Hinton expressed regret for failing to consult when Thomson's predecessor left and saying it would have been "more appropriate" to do so.

Saturday, August 4, 2007

Dirty Digger: charm offensive or just plain offensive?

The Bancroft family, who sold out Dow Jones and the Wall Street Journal, comes off as "dysfunctional as the Windors", writes Andrew Clark in the Guardian. Christopher Bancroft, the seller, is shown left.
Clark recounts a family farce almost as bad as Queen Elizabeth's annus horribilis, where one bitter relative shows up at the corporate meeting wearing a fishing cap emblazoned "Bite me."

The tycoon's brilliant business strategy just took a bit of time
"like a parent waiting for a baby to cry itself to sleep, Murdoch simply waited for the Bancrofts to exhaust themselves with in-fighting."

Tuesday, July 3, 2007

Ace ex-Aussie Murdoch keeps cards close to his chest


Time's lengthy profile of Rupert Murdoch, 76, and the flattering set of black and white photos that accompany it online have raised some questions

What does a restless septuagenarian moving headlong into the digital age want with a somewhat beaten-down media property like Dow Jones, which over the years has misplayed some juicy opportunities to sell financial information in the digital world? Others may look at Dow Jones and see an excellent, world-renowned (though economically stagnant) print newspaper with a successful subscription-only website; Murdoch sees the engine of a global, interactive, multiplatform business-and-finance network that will drive his soon-to-be-launched Fox Business Channel, power up his 24-hour Sky News channel in Europe and fuel a still inchoate collection of online financial services. "We've got to lift our game tremendously," he says. "We'll sell our business news and information in print, we'll sell it to anyone who's got a cable system, and we'll sell it on the Web." Says News Corp. president Peter Chernin: "There are millions of people throughout the world joining the financial class, and the Journal is the premier financial brand. We have the size and international strength to monetize it globally."
This definitely is worth reading, even though you may not warm to the subject.

Saturday, June 30, 2007

Bombshell? Doug Frantz off to Istanbul for WSJ

Re-inventing himself almost instantaneously, Doug Frantz, managing editor for the LA Times until 6 July, will soon be shepherding a half dozen hacks in the Middle East for the Wall Street Journal, starting in September; his summer vacation presumably will be spent with his wife, Catherine Collins, toiling over "the Nuclear Jihadist" a co-written tome about AQ Khan, the nuclear smuggler behind the Islamic bomb.
Whether Frantz will answer to Rupert Murdoch remains to be seen. It'd be a shame if he's required to put the bull into Istanbul.