FCC commissioner: News Corp. acquisition of Dow Jones not a ‘slam-dunk’

Published on .

Washington, D.C.—FCC commissioner Michael J. Copps on Wednesday said in a prepared statement that News Corp.’s acquisition of The Wall Street Journal publisher Dow Jones & Co. is by no means a “slam-dunk.” The statement was made on the same day that Rupert Murdoch’s News Corp. sealed the deal to acquire Dow Jones for about $5 billion, or $60 a share.

“This deal means more media consolidation and fewer independent voices, and it specifically impacts the local market in New York City,” Copps said. He added: “We should immediately conduct a careful factual and legal analysis of the transaction to determine how it implicates specific FCC rules and our overarching statutory obligation to protect the public interest.”

Meanwhile, there is speculation that Murdoch may want to name Times of London Editor Robert Thomson to a senior role at the Journal, according to a report in today’s Journal. Under the terms of the editorial independence agreement that is part of the deal, Murdoch has the ability to appoint his own publisher for the Journal. But the newspaper quoted a person familiar with the situation as saying that Murdoch has no intention of replacing any of the senior management.

—Matthew Schwartz

Most Popular
In this article: