NEW YORK (AdAge.com) -- Rupert Murdoch's victory in winning approval for New Corp.'s acquisition of Dow Jones and its flagship Wall Street Journal is a historic event with far-reaching implications for journalism, the media business, the competitive landscape and advertisers, says Ad Age media reporter Nat Ives in this video interview. The changes are likely to be most significant for the Journal because, he says, "Rupert Murdoch is going to come in as a purpose-driven, hands-on manager with an agenda. The Journal and Dow Jones for years have been almost drifting. ... The Bancroft family that controls the company has certainly been hands off and unsure about the quality of their own executives and now we have someone who really has a vision coming in to take control."