Frankenstein Monster
Umair Haque zum Murdoch/WSJ deal
Take Murdoch + the WSJ. Murdoch has ripped apart the journalistic integrity of every newspaper he’s ever bought.
Yet, the NYT focuses today on business models.
Honestly – who cares. The business model is the least important facet of this deal.
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In other words – it’s not the benefits to Murdoch we should be concerned about; rather, it’s the losses to readers we should be concerned about.
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It’s a deadweight loss for everyone. Despite Lauren Fine’s ersatz argument that “shareholder value” will be unlocked.
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True value creation happens when everyone who has an economic interest in media is made better off.
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More simply: Value is not created when when value is simply transferred from readers/consumers to shareholders – as has happened here.
(abt. essential mix)
