Murdoch: ‘You’re Not Going To See Dow Jones Shirts’

The well-practiced art of Rupert Murdoch media navel-gazing yesterday reached fever-pitch as NewsCorp released its fiscal fourth-quarter results after the closing bell. Quarterly profits rose to $890 million from $852 million greatly on the strength of electronic media and the cable unit. Murdoch admitted he plans on selling off Dow Jones & Company’s 23 local papers “fairly quickly.”

Murdoch — who insisted he is not a “genocidal tyrant” — reassured reporters and analysts about his plans for Dow Jones, saying, according to Robert MacMillan of Blogs.Reuters:

“‘It’s too valuable,’ he said. ‘We want to use it in every way ourselves that is going to make money. But you’re not going to see Dow Jones shirts.’”

NewsCorp is also well-positioned — with the Dow Jones acquisition — for the October 15th roll-out of Fox Business Network.

— Ron Mwangaguhunga

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