Murdoch fails to win support from WSJ reporters
NEW YORK (Reuters) - Rupert Murdoch has failed to win support from Wall Street Journal reporters for his $5 billion bid for parent company Dow Jones & Co. Inc. DJ.N, with some employees complaining on Friday about his ideas for changing the paper.
In comments published in Friday's New York Times, the chairman and chief executive of News Corp. NWSa.N said his family is committed to "preserving the paper's heritage."
But some employees were angry over Murdoch's comments about certain aspects of the paper, including story length.
Murdoch told the Times he rarely finishes some articles because they are too long: "I'm sometimes frustrated by the long stories."
But Steven Yount, president of the union that represents many Dow Jones employees took issue with the comment.
"Not everything is five paragraphs and a picture," he said. "You cannot buy The Wall Street Journal and turn it into USA Today."
A reporter who requested anonymity because he is not authorized to speak for the paper said requiring shorter stories would hurt the paper's reputation.
"I don't think it was a wise thing to say, given that a lot of what makes this paper great are the narrative pieces that are in-depth," the reporter said.
A second reporter said the comments solidified opposition to Murdoch's bid.
"I think anyone would have a tough sell, but Murdoch is a particularly polarizing figure," the reporter said.
In the Times interview, Murdoch said he would like to see more political coverage in the news pages.
"I might put more emphasis on Washington," he said.
He is not a fan of the Saturday edition of the Journal and would look at changing its Pursuits section into a glossy magazine to compete with the Times's Sunday magazine.
Murdoch's comments came as the Times and Wall Street Journal reported the Australian media mogul and publisher of The Times of London and the New York Post wants to take his case for buying Dow Jones to the Journal's editorial staff, as well as the Bancroft family that controls the company.
He does not need Journal newsroom staff's approval, but swaying them would help him convince the Bancrofts his offer would preserve the paper's journalistic integrity.
Dow Jones, which publishes the Journal, Barron's and Marketwatch.com, said earlier this week that its board would not act on Murdoch's $60 per share offer after a majority of the Bancrofts indicated they would veto a deal.
Murdoch told the Times he wants to address the Bancrofts and the news staff, but does not plan to personally lobby any shareholders.
Murdoch pledged not to come in "with a bunch of cost- cutters," but said it would not be a "holiday camp for everybody" either.
"These are not suggestions that he likes The Wall Street Journal as it is," said another reporter who requested anonymity. "It doesn't sound like he's changing the crossword puzzle. It sounds like something much more dramatic."
