Free Press: Wall Street Journal Sale Is Bad for Journalism, Bad for Democracy

June 1, 2007
11:52 AM

CONTACT: Free Press 
Craig Aaron, (202) 265-1490, x25

Wall Street Journal Sale Is Bad for Journalism, Bad for Democracy
Free Press Urges Dow Jones not to Sell Out to Rupert Murdoch

WASHINGTON - JUNE 1 - In response to Thursday's announcement that the board of Dow Jones & Co. is considering selling the Wall Street Journal to Rupert Murdoch's News Corp., Free Press Executive Director Josh Silver issued the following statement:

"There are four broadcast TV networks in this country and three national newspapers: The New York Times, USA Today and the Wall Street Journal. These seven outlets are the most influential news sources in the nation. They effectively determine what's news and what's not. No single company should own two of them. Period.

"Putting the Wall Street Journal which always has maintained strict separation between its newsroom and the editorial page and Fox News under the same umbrella is bad for journalism and bad for democracy. The fact that no law currently prevents such a merger is a grave policy failure that Congress should address through changes in media ownership rules.

"In the meantime, Dow Jones and the Bancroft family must decide whether their higher priority is good journalism or greed. Once that line is crossed, there's no going back."