Rupert Murdoch's Murdoch's News Corp owns the Times in London, Fox Television, the New York Post, and MySpace.com as well as all of Australia.

Why shouldn't he buy Japan's number one newspaper, The Daily Yomiuri as well? And perhaps he can buy the Nikkei, too, no? Oh, and he'll get the Yomiuri Giants, too. What fun!

Of course, he hasn't bought Japan's best or at least its biggest but today Murdoch did purchase the Wall Street Journal (America's 2nd biggest) and Dow Jones for a reported $5.6 billion.

Some people have way too much money. 

So, now what?

Does the

Bancroft family & critics no longer need to worry about protecting the reputation of the WSJ? Answer - no. They sold their concerns.

What about traditional newspapers? Will they become more tabloid-like? But, then aren't they already? 

What plans does Murdoch have to combine online media with the WSJ and the Dow?  Or is he too old to see what the outcome will be?

More questions than answers perhaps…but one thing is for sure, as was said of Henry Ford, whether what he did for America was good or bad when he came up with a way to mass produce the car, "Don't know whether it is good or bad, but America is definitely not the same."

Murdoch is sure to NOT leave the media industry the same.

What fun! 

CEO of KnowMoreMedia Speaks Out

WSJ has their say

CNN chimes in

Time takes a look