N.Y. Times, Playing Role of the Pot, Calls the Wall Street Journal’s Kettle Black
I love the New York Times (and not just because I used to work there) but goodness gracious, this kind of thing really hurts its credibility.
An article about News Corp.’s decision to split off its publishing business (including the Wall Street Journal) from its entertainment business contains the following sentence:
Both companies would maintain their controversial dual-class share stock structure, which enables the Murdoch family to control nearly 40 percent of the voting power.
Well, guess what other family-run news organization maintains a dual-class share stock structure? Yes, the New York Times — as well as the Washington Post and others, as Rupert Murdoch pointed out in announcing News Corp.’s move. This fact, however, isn’t mentioned in the Times article. But here’s the reality: given the turmoil in the newspaper business in general and at the Times in particular, it’d be easy to argue that if anyone’s dual-class ownership is “controversial,” it is the Times‘s more than the Journal‘s.
The Times article also omits that the new publishing unit will include News Corp.’s education unit and HarperCollins, one of the world’s largest book publishers. (Our books are published by William Morrow, a division of HC.) The Journal‘s coverage of the story is superior.