Brinksmanship In News Corp's Talks With Dow JonesAlso, The New York Times Has Mixed Feelings For Murdoch

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The New York Times published its 3800-word investigation of Rupert Murdoch’s NewsCorp today, but it doesn’t contain any of the dealbreaking revelations we anticipated. In the “Murdochracy,” the Times reports, Murdoch avoids government regulation and generally gets what he wants through the potent cocktail of intimidation, lucrative private contracts for elected officials, campaign contributions and enormous lobbying budgets.
We remain convinced that the Times’ business section would love to see the NewsCorp.-Dow Jones deal go through, if only to watch the Wall Street Journal tabloidicized. Inset into the indignant larger story by the news department, business section reporters Richard Siklos and Andrew Ross Sorkin have a short piece reporting that, after a tempestuous weekend, the Dow Jones deal is closer to realization than ever before. The news section seems to think Murdoch is a manipulative, dangerous man while the business section just likes watching their rivals at the Journal sweat.
Yesterday, Murdoch drafted a letter withdrawing NewsCorp from negotiations after he found the Dow Jones proposal to ensure the Journal’s editorial independence “insulting,” the Journal reported. The letter was never sent and talks returned to normal late last night. Even if Dow Jones and NewsCorp can agree on the governance of the Journal, the Bancrofts still need to settle on a price, meaning these negotiations could go push into July. Bankers we spoke to said it was unlikely that Murdoch would increase his offer.
We're dialing the Murdoch Meter back five points after the tumultuous weekend.
Murdoch Reaches Out for Even More [New York Times]
Dow Jones Deal Talks Intensify [Wall Street Journal]

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