Murdoch Bids $5 Billion for Dow Jones

Scary and unsolicited — are newspapers suddenly worth something again? (more to follow)…

Dow Jones owns the Wall Street Journal, among other things, and Murdoch’s News Corp. bends the rules of media ownership with it’s massive stable of multiple media in practically every English speaking market worldwide. Just who does that include? It’s all on this list.

The Bancroft family (which controls Dow Jones), along with practically the entire staff of the Wall Street Journal, currently oppose News Corp.’s offer, while others — like analyst Mort Zuckerman — are calling Murdoch “brilliant.”

Shares of Dow Jones jumped over 50% to just shy of Murdoch’s offering price of $60/share in Tuesday trading. Other publicly traded newspaper company’s saw prices surge as well.

But the offer raises numerous red flags, writes Mark @ News Corpse including News Corp.’s plans to launch a Fox Business Channel to compete with the likes of CNBC.

It may seem insulting to WSJ writers to be threatened with ownership by the likes of the mogul who has turned the likes of the New York Post into practically a supermarket tabloid. But more important and influential could be the residual effect of Murdoch’s lofty valuation of Dow Jones on the struggling (by Wall Street standards) newspaper industry.

LA Times Gets Flashy with Grizzly Story

I was happy enough to read part one of Thomas Curwen’s excellent report on Johan Otter, who was attacked by a grizzly bear in Glacier National Park while hiking with his daughter and lived to tell about it.

The HUGE bonus, is this awesome audio/photo slideshow. Nice, one, LAT. More, please!

Read “Attacked by a Grizzly” Part One | Part Two.

Moyers’ ‘Buying the War’

Bill Moyers is back on PBS tonight with ‘Buying the War’. In 2005, then-Corporation for Public Broadcasting president Ken Tomlinson bent over backwards for the Bush Administration and hired media researchers that would determine an “imbalance” in PBS’ programming. He repeatedly accused Moyers of “liberal bias” on his popular show “Now with Bill Moyers” and soon enough, the esteemed Moyers said buh-bye. Around the same time, Congress cut funding to the CPB, the primary funder of PBS and NPR, by 45%. (Annenberg’s own Ernie Wilson currently serves on the CPB board).

‘Buying the War’ airs tonight at 9 PDT and may be available online afterwards — as usual, the PBS site is already chock-full-of extra interviews, a blog, etc.

WaPo’s TV critic Tom Shales wrote:

Tonight’s edition of ‘Bill Moyers Journal’ on PBS is one of the most gripping and important pieces of broadcast journalism so far this year, but it’s as disheartening as it is compelling…. In this 90-minute report, called ‘Buying the War,’ Moyers and producer Kathleen Hughes use alarming evidence and an array of respected journalists to make the case that, in the rage that followed the Sept. 11, 2001, terrorist attacks, the media abandoned their role as watchdog and became a lapdog instead.

More to come after it airs (9 PDT out west) Meanwhile, here’s a glimpse at bloggers’ reactions around the Web:

UPDATE: Moyers is great, as is Rather, who is featured throughout (and to whom I gave much love last month). I’ve been hearing these same references — Landay/Strobel, etc — it makes me cringe. Surely, the refrain will ring out long after this war is behind us. Larisa, who feared Russert was about to go all fetal-position, posted a succinct, 8-point review of the program here.

Nation Google-Bombs Stephen Colbert’s Balls

brassballs.jpgIn another display of new media bravadura, Colbert Nation successfully Googlebombed their esteemed leader to the number 1 spot on Google for the following two searches:

* giant brass balls
* greatest living American

And a tip of the hat from netZoo to Wikiality now with over 1 million pages of truthiness served. Watch your back, Ronald McDonald.