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Howard Kurtz in today's Washington Post makes some interesting points about Rupert Murdoch's bid for Dow Jones:

The newspaper business is battered these days, with rich folks buying up properties at fire-sale prices and proceeding to slash costs. Avista Capital Partners just cut 50 newsroom jobs at the Minneapolis Star Tribune. Philadelphia public relations executive Brian Tierney laid off 71 at the Philadelphia Inquirer. Chicago real-estate mogul Sam Zell hasn't taken a wrecking ball to the Tribune papers yet, but the chain's jewel, the Los Angeles Times, announced plans to eliminate another 150 editorial jobs. And none of these new owners had a previous day of newspaper experience.

Along comes Murdoch with a generous offer to buy Dow Jones, and he's not talking about slashing costs. In fact, he told the New York Times he wants to expand the Journal's Washington coverage.

The Financial Times reports that some Bancrofts are ready to meet with Murdoch.

Posted by edelfenbein at May 14, 2007 10:03 AM