Thursday, August 9, 2007

The Guardian reports Murdoch's complaints

From The Guardian:
"Rupert Murdoch has complained that his victorious three-month battle to buy the Wall Street Journal involved fending off criticism bearing a degree of vitriol usually reserved for "genocidal tyrants".

In his first detailed comments since securing a $5.6bn (£2.7bn) takeover of the Journal's publisher, Dow Jones, the media mogul revealed that he was seeking $50m in annual cost cuts - and was considering offering free access to the paper's website.

"The Wall Street Journal is the greatest newspaper in America and one of the greatest in the world," said Mr Murdoch, insisting that he would be hiring - rather than firing - staff. The paper had "tremendous" journalists and a valuable brand. "That's why we put such a premium on it and why I spent the better part of the last three months enduring criticism normally levelled at a genocidal tyrant."

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