
I love the daily newspaper. For as long as I can remember, I've been reading the newspaper. My father taught me the importance of this when I was younger....Understanding your world, your community, becoming educated. I grew up reading Dave Campbell in the Sports pages of
The Waco Tribune Herald. I learned what great reporting and great writing was. I still truly believe that a daily newspaper is one of the most educational and important tools we have. And yet we take it for granted. Because we live in a free marketplace with free speech, we don't truly understand what it is like for a government to determine what we can and cannot read...the news that is fit for us to see. In this country we have multiple media outlets and news sources, and that most often allows us to see more than one side of the story. Today I read two newspapers a day regularly, The Wall Street Journal and The Dallas Morning News. I often also read
The New York Times, The San Francisco Chronicle, The New Orleans Time Picayune, The Economist, Baseball Weekly, and
Slate.
Media is changing though and along with it the newspaper seems to be dying a slow death. Bloggers now are taking more of your traditional newspaper reading cicurl I remember when
The Dallas Time Herald folded into
The Dallas Morning News. I remember when Gannett and Knight Ridder started buying up all the newspapers. I remember when
The New York Times used to have standards of impeccable journalism before Jayson Blair started making up stories. And now, it seems one of the greatest newspapers of all time,
The Wall Street Journal, may be entering a new chapter, not necessarily for the better.
Media baron Rupert Murdoch has offered an extremely generous premium on the price of Dow Jones stock (parent company and publisher of
The Journal). The offer is about $6billion. Currently, a majority of Dow Jones shares are held by the Bancroft family, whose ancestors founded the newspaper. The unique thing about the Bancroft family is that they are truly "hands off" on the editorial content of
The Journal and unlike many media companies including News Corp., they do not try and influence the content of their publications. This allows for
The Wall Street Journal to provide unique reporting focused on business markets and the global impact of business and politics on our lives.
As reported today in The Opinion pages of today's
Journal, William Grimes editorialized in 1951 that the newspaper's philosophy was "we make no pretense of walking down the middle of the road. Our comments and interpretations are made from a definite point of view. We believe in the individual, in his wisdom and his decency. We oppose all infringements on his individual rights, whether they stem from attempts at private monopoly, labor union monopoly or from an overgrowing government. People will say we are conservative or even reactionary. We are not much interested in labels but if we were to choose one, we would say we are radical. The editorial in today's people goes onto to say their worldview hasn't changed since then and that it "still sounds pretty good to us."
This unique philosophy in the individual and individual rights has won
The Journal the most influential and affluent readership of any periodic publication worldwide that I am aware of. I've read editorials from Vladimir Putin and Rudy Guiliani in these pages. I've read interviews with everyone from Boone Pickens to Alan Greenspan. This is a newspaper that has never endorsed a Presidential candidate, but instead endorsed policies and ideas. Despite its well-known philosophy that often aligns with conservatives, this newspaper only today called President Bush's Administration marked with "cowardice" and "incompetence" in regards to Scooter Libby and the Valerie Plame CIA Leak affair. They've also often praised his Aministration for other works and policies. I know of no other newspaper anywhere that stands singularly for ideas in this way and is not afraid to deliver news and opinions based solely on their ideas and not the political party or persons of their liking or disliking. That's why it would be a great shame if Rupert Murdoch's News Corp. does buy
The Wall Street Journal and slowly errodes the journalistic independence of this newspaper in the name of business. I don't fault Rupert Murdoch for buying the paper or trying to make money. That's his bottom line business. I only hope that if he or anyone else does buy
The Journal, that it remains as it is. And that is profitable, and profitable with integrity.