Wednesday, May 2, 2007

Hats Off to the Bancrofts

Edit: Fixed some spelling mistakes

I personally dislike Fox News and Rupert Murdoch's axe job on journalism. In a democracy, it is important that the media remains independent and objective, yet Murdoch and his massive media conglomerate is nothing more than a lapdog for the Bush administration and the far-right.

That's why I'm happy to hear that the Bancroft family, which has the majority of the voting power of the Dow Jones, has rejected Rupert Murdoch's takeover bid of the company. The Dow Jones would give Murdoch ownership over the Wall Street Journal, and numerous other online and offline properties.

Murdoch, and in particular Fox News, is far from famous for its objective journalism. While this could of course be nothing but a negotiating tactic on the part of the Bancroft family, I hope that the Bancrofts either stick to their guns or some more objective media company outbids Murdoch and snaps up the Dow Jones before he is able to.


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