Posted January 29, 2008
An interesting article by John Ellis discussing the New York Times from a market standpoint.
But perhaps the biggest change is that The New York Times is squarely in the cross-hairs of the aforementioned Rupert Murdoch. Mr. Murdoch recently acquired Dow Jones for $6 billion. He did not buy Dow Jones because of its growth potential. It’s a mature business, to say the least. He did not buy Dow Jones because he sees limitless growth opportunities in financial news and business information. It’s a crowded field. He bought Dow Jones so that he could own The Wall Street Journal. He intends to use The Wall Street Journal as a precision-targeted weapon. And the target he has locked onto is The New York Times.
As much as I admire the NYTimes, I’m afraid that this article brings forth a very bleak reality for the future of media. Because Murdoch’s grasp is so vast, it is beginning to resemble a monopolistic corporation who will act to bolster its business not so much through innovation, but by killing competition. While I do feel that Mr. Murdoch is a media genius who can be very innovative, its scary to think the consequences of monopolistic behavior in news media, particularly with the public criticism so many have for Murdoch’s political bias in his news outlets.
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