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Tuesday, May 25, 2010

War at the Wall Street journal : inside the struggle to control an American business empire

 by Sarah Ellison. The Wall Street Journal (WSJ), published by Dow Jones, had been family owned for over a century when Rupert Murdoch's bid split the Bancrofts. Although the family had not been actively managing Dow Jones, instead relying on advisers, many were convinced that Murdoch would sensationalize the paper. Others worried about the paper's right-wing editorial slant encroaching on its journalistic bent. Ellison, a former reporter for the WSJ, delves into extraordinary detail on the business and personal disputes that peppered the 2007 acquisition. Keeping track of all the players can be tricky, but a Cast of Characters list at the book's beginning helps. Ellison makes clear that a large reason Murdoch wanted to purchase the WSJ was a rivalry with New York Times publisher Arthur Sulzberger Jr. VERDICT This is an ideal read for those heavily interested in media business and tactics, but it might be too detailed for others looking for an overview (point them to the Mar. 8, 2010, New York magazine cover story on Murdoch, "The Raging Septuagenarian"). --Library Journal (Check Catalog)