May 4, 2007
Murdoch in the Times: News Nuggets?
Friends,
I wanted to share a couple of quick thoughts on a couple of "items of interest" with more to come on both in the next few days.
First of all, the News Corp bid for Dow Jones: We've made it clear that we're opposed to the takeover. We believe that what's at stake here is the essence of everything you do: the unquestioned integrity, objectivity and independence of Dow Jones and The Wall Street Journal. I was particularly troubled by an apparent off-hand comment in the New York Times interview with Rupert Murdoch, quoting Mr. Murdoch saying, "I'm sometimes frustrated by the long stories," he said, adding that he rarely gets around to finishing some articles."
I'm afraid Mr. Murdoch doesn't understand why The Wall Street Journal is The Wall Street Journal.
Not everything is five paragraphs and picture.
Dow Jones did not become the most trusted source of business news and information in the world by serving up News Nuggets.
Secondly, the contract bargaining: Dow Jones canceled last Monday's scheduled session without offering an explanation— although the "why" now seems obvious— and without setting a date for the next session. The bargaining will continue and our bottom line remains the same: Quality People deserve a Quality Contract.
The News Corp bid for Dow Jones dramatically underscores that position. The real value of Dow Jones is not a name or a masthead or a "brand." The real value is the quality that you bring to the product. Your efforts are why News Corp is willing to offer $5 billion for Dow Jones: those efforts must be recognized, rewarded and protected.
One thing is clear: Your voice is being heard. By management. By the Family. By Rupert Murdoch. By everyone. You make a difference. We have to continue the fight to preserve the quality, integrity and independence of Dow Jones.
As always, let me know what you think... and if you need me, give me a call.
Steve Yount
President
IAPE CWA 1096