Becky Quick and Star Wars: The Financial Empire Strikes Back


In celebrating the 30th anniversary of Star Wars opening in 1977, Rebecca Quick of CNBC’s Squawk Box was likely looking to use that light saber she toyed with on a man currently looking to buy her former employer, The Wall Street Journal. This man being Mr. Rupert Murdock.
The Australian media mogul has made a healthy living of buying up newspapers, cutting staff and changing editorial policies. He also once owned the Los Angeles Dodgers from the late 1990’s to 2004 before selling them at a nice premium. In a article written in 2003, Murdock’s News Corp. used some unusual pressure to get a biography done on Sandy Koufax. This type of pressure is a usual tact of the mighty Murdock, who chased Koufax out of the Dodger organization.
Koufax is probably the greatest left-hand pitcher of the last 50 years.
Mr. Murdock’s efforts to buy the Dow Jones, which owns the Wall Street Journal, at quite a premium (like 50-60%) over where the stock was trading (mid-30’s) before the offer came down raises concerns about what price is integrity bought at. The stagnant newspaper and stock exchange areas (with the recent flurry of acquisitions by competitors or private equity) leads one to belief only a handful of media outlets will be left within 5-10 years. Luckily, bloggers provide the same type of information, quicker than the mainstream, and the need to rely on their “editorial nuetrality” is lost.
The Journal has garnered a great deal of respect from nearly anyone in the business world. Becky Quick had a very long history with the online journal and worked as a correspondent according to her bio and was a journalism-first type at her Rutgers University stay, as editor-in-chief of the school’s newspaper in the early 1990’s. (Better known for the Don Imus “bone thugs and harmony” comment about the women’s basketball team.
Though she bit the tongue a bit as Murdock name was mentioned, and whose buying of the Wall Street Journal and developing a TV show that opposed the CNBC business powerhouse would be a direct competition, unlike Bloomberg, Ms. Quick has the fortune to see the Bancroft family circle the wagons so far to Murdock’s proposal.
As Murdock takes on the Darth Sidious role, is Ms. Quick Princess Leia?
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Comments

  • Bipolar Wellness Writer  On May 25, 2007 at 10:01 pm

    Jay Pee,
    Very entertaining and I’m not even interested in baseball. Thanks for posting on my blog. I still owe you a response on the “prayer” post but I’ve been swamped. Have a nice weekend! I’ll be in touch.

    Susan

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