Is it true that money buys happiness? Apparently, the Bancroft family thinks so. From the Guardian:
It was a sad week, perhaps, for the Bancroft family – that paternal clan of old-time warriors who fought valiantly to maintain the independent integrity of the Wall Street Journal. Or did they?
A less sympathetic observer might suggest that the Bancrofts spent three months indulging in navel-gazing dithering over Rupert Murdoch’s $5.6bn offer for their family media vehicle before indulging in a venal lunge for cash at the flimsiest hint of an extra incentive.
Whatever you think of the Dirty Digger’s politics, you’ve got to hand it to Murdoch – his handling of the Dow Jones battle has shown business brilliance and he has left the Bancrofts looking more dysfunctional than the House of Windsor.
As part of News Corp.’s deal to acquire Dow Jones, Murdoch agreed to give the committee limited power to intervene if it believes the new owners are attempting to compromise the paper’s accuracy, fairness or freedom from bias.
Who are these independent people on the panel? Back to the Guardian:
A member of the five-strong committee designed to protect the editorial integrity of the Wall Street Journal runs a foundation that received a $2.5m (£1.2m) donation from News Corporation, it has emerged.
Nicholas Negroponte, former chairman of the Massachusetts Institute of Technology’s Media Lab and a founder of Wired magazine, has links to Rupert Murdoch’s company through non-profit group One Laptop per Child.
The group, which is overseen by Mr Negroponte, has received $2.5m from News Corp, which is one of 11 companies, including Google, to have pledged the same amount to OLPC.
Oh, yeah, and he is the brother of John Negroponte,
Chimpy’s George W. Bush’s former director of national intelligence and now deputy secretary of state. But, wait, kids!! It gets better!
In addition Jeremy Philips, the News Corp executive vice-president, is a board member at OLPC.
The relationship between the two companies is well known with Mr Murdoch, the News Corp chairman and chief executive, appearing alongside Mr Negroponte at the World Economic Forum in Davos in January.
Despite this Dow Jones said yesterday that it was unaware of the link. Dow Jones spokeswoman Linda Dunbar said: “We are confident of the capability of the individuals to make independent decisions.”
Whew! I feel better! 😀
Of course, Murdoch’s News Corp owns
the propaganda arm of the RNC Faux Fox News, and we know how fair and balanced that is! Grudges never interfere with reporting unbiased news! From the Seattle Post-Intelligencer:
Daily Kos found a new target in 2007 — the right-of-center Fox News Channel, a branch of Rupert Murdoch’s media empire, and mounted an instant campaign among liberal bloggers that persuaded Democratic presidential candidates to boycott debates hosted by Fox. Fox’s close ties to the Bush administration were the stated reason.
Even Hillary Clinton, feted by Murdoch at a fundraiser last year, withdrew. John Edwards made a big deal about being the first candidate to shun the “faux” News Channel.
The Murdoch Empire has struck back. Fox loudmouth Bill O’Reilly has launched a bunch of hyperbolic attacks on daily posts and Democratic presidential candidates for attending the blogger convention. He has likened the operators of the Daily Kos Web site to the Nazis and the Ku Klux Klan for displaying vitriolic attacks on the Bush administration. In turn, daily posts combed O’Reilly’s Web site and found threats directed at Hillary Clinton. O’Reilly staged a dome-building eruption on the air and cut off the microphone of a guest pointing to extremist posts on his site.
That sounds terrible, but it seems that there is another side to the story. The halls of Fox News are swarming with liberals! Ask Rupert! From News Hounds:
On May 8, 2003, Rupert Murdoch, the owner of News Corp., Fox’s parent company, testified before Congress in his bid to gain approval for News Corps’ purchase of a controlling interest in the parent company of DIRECTV. During the question and answer period after his formal testimony, Murdoch said,
We are bringing diversity of opinion. We are — there is a diversity of opinion on Fox News. You may disagree with that. We have many liberals there — many liberals invited. We have liberal commentators and we have conservative ones.
Who are your liberal commentators?
Ah, Alan Colmes, for one. Um, Greta Van Susteren. Um, you know, it’s in the eye of the beholder I guess.
On January 22, 2007, the jury in the “Scooter” Libby trial was seated. At no time, between that day and today, March 6, 2007, when the Libby verdict was handed down, did Fox’s high profile legal anchor, Greta Van Susteren, host of “On the Record,” — and one of its purported “liberals” — utter the words “Libby trial.”
Well, that’s all business, and, as they say, business is business. I’m sure the Roopster lives just like you and I, and I bet people love Roopy-Poopy for the man he is, not for his money! From New York Magazine:
Rupert met Wendi Deng, tall, attractive, bright, and two years older than Lachlan [Rupey’s son], in China, the next and perhaps greatest media frontier. Fresh out of Yale School of Management, Wendi, born in China, landed a job at Star TV, Rupert’s Hong Kong–based satellite business. One day, Rupert phoned to say he was on his way to Shanghai. Gary Davey, then-CEO of Star TV, was off in India and recalls scurrying to find someone to accompany Rupert. Wendi was only, at that point, an intern on the business-development team, but she speaks Mandarin (her English is still accented) and knows the system…
At a staff meeting with Rupert in Hong Kong, Wendi’s hand shot in the air. “She was the first person to put her hand up,” remembers one former exec. She asked an intelligent question. “At the end of the session, she came right up to him.”
Rupert likes bright women. “That was a very interesting question. I’d like to talk to you more,” he told her.
Wendi seemed the perfect person to accompany Rupert on his swing through China.
Wendi, it turned out, had also exited a relationship not long ago. Her first husband, Jake Cherry, was another older married man. Wendi had met Jake, his wife, Joyce, and their two kids in China a decade earlier. By Chinese standards, Wendi’s family was upper-middle class. Both her parents are college-educated engineers. The family had a car and a driver and was the first in their community to own a TV. Wendi knew lots of people who attended school in the United States. She wanted to do the same. Perhaps that’s why Wendi wanted English lessons from Joyce.
After a few months, Joyce left to take the kids home; school was starting. Jake remained to finish his job installing factories. Soon, Jake called his wife to suggest they sponsor Wendi in the United States while she attended college. She was an intelligent young woman (about 18 at the time) and full of promise, Jake told his wife.
Wendi lived with Jake and Joyce at their home in La Crescenta, California. She enrolled at California State, Northridge, where she was an outstanding student—“top 1 percent,” says one of her former professors.
“Meanwhile, though, she and my husband were having an affair,” says Joyce.
“None of this is my fault,” Wendi told Joyce. Jake, 30 years older than Wendi, said he loved her. Joyce kicked them out.
Jake and Wendi’s marriage lasted two years and seven months. Jake earned a decent living—$50,000 a year, according to divorce records—though not a lavish one. “She disappeared when he couldn’t provide her graduate school,” Joyce says. Though Jake suggested to the Wall Street Journal that Wendi’s feelings ended the marriage. She told him she couldn’t see him as other than a father figure. Soon, she was off to Yale, where, though outgoing, she was discreet—hardly any of her friends knew that she had been married.
Yes, that’s Wendi I-married-that-old-fart-for-love-and-not-his-billions Deng in the picture above. Young, pretty, and smart. It’s no wonder she had to marry
an old, ugly, nasty man 37 years older than her Rupiekins. They now have 2 little girls. Shudder , I don’t care how much money he has–sleeping with that?