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May 1, 2007
Unsolicited Advice for CNBC
I am merely an occasional commentator on CNBC, so the biz network can do with the following advice what it sees fit, but given that Dow Jones is in play GE/NBC should be bidding aggressively. A new Fox biz network with integrated WSJ/DJ/Marketwatch will be an instant major media presence.Regardless of whether GE/NBC shows up, lots of speculation about who else might. This sort of thing will shake a lot of trees, with everyone from the NY Times, to the WashPost, to a host of PE guys all almost certainly giving it a serious think.
[Update] Barry Ritholtz, who rec'd Dow Jones on Bloomberg not long ago, has some equally strong views on the subject.
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Present company excluded, of course. Right? Right?
The NBC unit, along with The NY Times and The Washington Post, are doomed to go the way of fellow liberal media outlet Air America
The problem is that News Corporation is not Journalism -- they are run as if they are an arm of the GOP.
The proposed takeover would have negative ramifications for moderate Republicans, and be especially bad for Journalism.
Of course, it would be good for partisans like One Way Stox -- they get their wish in seeing the 4th Estate further taken apart . . .
thanks for the props Carl
It's funny 'cuz a lot of us on The Right think that not only are the NYT's & WaPo's & CBS's & MSNBC's bad for journalism, but bad for America.
After he retired, Jack Welch said of the NBC News divisions, 'Sometimes they look like a bunch of anti-American communists'.
Talk about a has been private club, MSM is so yesterdays news. On behalf of most J6P's, I am happy to report that CNBC aside from it's superior ad-spots and ticker-access is just mindless cheerleading. Now if we could only clone the likes of Mish Shedlock, Russ Winter, J. Succo, and Tanta.... :)
Here's the relevant Business Week quote from the Jack Welch interview:
BW: Are you worried about the consolidation of media in fewer and fewer hands?
JW: They always used to say when NBC was owned by GE that we would have something to say about it. If we ever whispered in Tom Brokaw's ear what to do, he would have raised a flag into the square. Sometimes I feel they are communists, but there's nothing I can do about it.
Seems to me Mr. Welch was merely commenting on GE's (and other potential consolidators) inability to influence the news, and not much else. Perhaps OneWayStox should get a job at Fox...he's got the spin thing down pat!
Fox plus DJ just means there will be more ugly people on air.