Book Club: The Wall Street Journal Is Rupert Murdoch’s Crown Jewel | Talking Points Memo

When Rupert Murdoch bought the Dow Jones Company in late 2007, he did so to acquire its prized title, the Wall Street Journal. The Dow Jones newswires covered the world of business at a feverish pace, competing with Reuters and Bloomberg for scoops. But the Journal had global reputation and reach. It was prominent and widely circulated; it had among the most subscriptions of any paper in the US. Murdoch, like the other people populating the Forbes list of billionaires, relied on it religiously for news about business, finance, and the regulations that could affect commerce. The Journal became the jewel in the crown of Murdoch’s media empire. He loved owning it.

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