Murdoch bid shows there's life in old media

Rupert Murdoch’s $5 billion tilt for Dow Jones – publishers of the Wall Street Journal – may have been rejected by Dow’s major shareholders, the Bancroft Family, but it does not diminish the significance of the offer.

Old media is clearly still good business or Murdoch would never have put a 67% premium on Dow's recent market value in a whopper of an offer.

Murdoch clearly sees the future media ecosystem where old and new media assets exist in splendid harmony. After all, whether it’s the WSJ, My Space, Fox News or The Australian, they’re all in the communications business, just targeting different audiences.

Despite the positives associated with the rise of citizen generated media and the proliferation of other Internet news sources, it’s good to see that the traditions of quality journalism remain a sought after quality in the media business.