News Corp, the Murdoch family empire that owns the Wall Street Journal, will buy the Investor’s Business Daily (IBD) newspaper and website for $275 million, News Corp has announced.
IBD will remain a separate brand and will be operated by News Corp’s Dow Jones unit, which publishes Barron’s and MarketWatch, as well as the WSJ, the company said.
IBD’s 100,000 subscribers have scant overlap with the audience for Dow Jones’ existing publications, creating opportunities for cross-selling, News Corp CEO Robert Thomson said in a comment quoted by the WSJ.
IBD has “done a better job than most” at transitioning to a digital world, Thomson said, with 90 percent of its revenues coming from online sales.
News Corp expects the acquisition to “significantly” improve Dow Jones’ profits, which in 2020’s final quarter, posted its largest quarterly profit since 2007.
TRENDPOST: We note this to further detail the concentration of ownership among the “Bigs” and their monopolistic control of the sectors they own.
On the media front, just six mega-corporations control 90 percent of America’s media. Thus, the fewer that own it, the less diversity in what is being reported and the more control of what is being sold as “News.”
Indeed, Jim Morrison, the lead singer of Doors, got it right decades ago when he said, “Whoever controls the media, controls the mind.”
As we have detailed, “mind control” it is. From launching the long cast of U.S. Wars to the current COVID War, to selling their agendas as we have detailed over the decades in the Trends Journal, freedom of speech and thought are now outlawed in the U.S.S.A. Not only is the mainstream media controlled by a few, so, too, is social media controlled by less than a handful of Big-Tech oligarchs.
Since we believe the truth will set you free, at the Trends Journal, our mission is the Truth in Trends. Therefore, please continue to support us and spread the word. The more subscribers we have, the more we can do. And in these times of monopolistic media giants in control, as evidenced, their agendas and bottom line come first, not the truth.
