Australian-born Media mogul, Rupert Murdoch's intent to purchase the Dow Jones Company, the parent publisher of THE WALL STREET JOURNAL, presents a new danger to freedom of expression within the U.S. as too much editorial power and media control is being centralized into too few of hands if the deal goes through, although in the last day the prospects have dimished somewhat for this takeover. Murdoch already controls many newspapers such as THE POST, SUNDAY TIMES, NEW YORK POST and many TV channels such as FOX TV, FX, and movie studios such as 20th CENTURY FOX, and some major radio stations.
While some corporate mergers are intended for the survival of smaller companies to cut costs and create a more efficient operation that can survive economically, it seems that the corporate deals of Rupert Murdoch are based more on his intent at promotion of his right leaning politics rather than any real need of the companies to cut costs for economic survival.
In the 1950's, the world's first real major modern times corporate merger was HUDSON and NASH, when they formed the new AMERICAN MOTORS CORPORATION for their economic survival. At the time it was the largest corporate merger in the world history, and would have been an even larger business deal if both STUDEBAKER and PACKARD had also been allowed to join the deal. But seriously weak financial problems for STUDEBAKER and especially, PACKARD, forced both HUDSON and NASH to exclude them from the deal. STUDEBAKER and PACKARD formed a far weaker company that stopped PACKARD production after the 1958 models and STUDEBAKER models in the mid 1960's. AMERICAN MOTORS CORPORATION managed to survive until well into the 1980's until CHRYSLER CORPORATION acquired the corporate assets in a bid to acquire the highly successful JEEP brand. The AMC brand of EAGLE automobiles was quickly dropped by CHRYSLER. The old HORNET nameplate used by both HUDSON and AMC is likely to reemerge again next year on a new Chinese built small car to be sold by DODGE.
But unlike previous economic deals solely meant for economic survival, Rupert Murdoch seems intent to add a right leaning political philosophy to most everything in the media he gains control of. For THE WALL STREET JOURNAL, this would mark a major change because editorially this paper has presented a slightly liberal view in the opinion and forum section pieces. This more responsible, compassionate and balanced editorial content could be lost to another attempt to Murdoch to paint the world in his own terms once again.
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