Critics of the buyout have said Rupert Murdoch would destroy The Wall Street Journal if a News Corp takeover were successful.
The Wall Street Journal and Dow Jones are already a successful, profitable organization, with an editorial page known for its conservative slant.
Predictions of demise of The Wall Street Journal under Murdoch's ownership are as premature as the obituary of Mark Twain that published prior to that author's death a century or so ago.
29 July 2007
Zell lands Tribune Media Company
It's very interesting to see a company the size of Tribune go private ... it'll be even more interesting to see how the newly privately held Tribune goes about maximizing revenues and controlling costs.
On the plus side, no longer being publicly traded should give the company some breathing room. On the minus side, the amount of debt that's being taken on with this acquisition is staggering.
It'll be interesting to see how involved Mr. Zell will be with his new news operations, which include the Los Angeles Times and Chicago Tribune, and how soon he will insist on making the company more profitable. At least in Chicago, the Tribune is still far ahead of its weaker competitor, the Chicago Sun-Times.
On the plus side, no longer being publicly traded should give the company some breathing room. On the minus side, the amount of debt that's being taken on with this acquisition is staggering.
It'll be interesting to see how involved Mr. Zell will be with his new news operations, which include the Los Angeles Times and Chicago Tribune, and how soon he will insist on making the company more profitable. At least in Chicago, the Tribune is still far ahead of its weaker competitor, the Chicago Sun-Times.
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