So Rupert Murdoch now owns Dow Jones and The Wall Street Journal. I've been following the story to some degree, although I have to admit that I'm not 100% on all in the ins and outs of the deal. The big concern is that the Journal will now become part of the Newscorp, right wing propaganda machine (see Fox News). Of course, it bears worth mentioning that the Wall Street Journal IS a right wing propaganda machine through its Opinion Journal.
But lets ignore that. The Journal's journalism is some of the best (arguably the best) journalism in the nation. We don't want to lose that and steps have been taken to buffer against that very thing: namely a five-person committee to safeguard journalistic standards. However, I'm not so sure that the Murdoch is going to try to change the Journal that much. He's buying the brand and if you're spending that much on a brand, do you want to change the brand? Or do you want to use that brand to augment your other endeavors? I say the latter. Also, you have to remember that Murdoch is above all else a businessman and at that he is genius. For example take the Fox family of networks: while Fox News rants against the destruction of the family and values, Fox TV puts on some of the most offensive, anti-family programming out there, giving Fox News more to rant about. Who wins in the end? Fox, Newscorp, Murdoch. It's not all about politics. Sometimes it's just about Money.