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Dow Jones & Company's (NYSE: DJ) Wall Street Journal (a.k.a., The Towel) occupies a unique spot in the media firmament. As I pointed out earlier in the year, it changed its format and now looks to me like a Holiday Inn bath towel. Towel Talk offers a perspective on its news and views.
Paris Hilton is an Alien! Long live China! -- That's what today's Towel would trumpet on its front page if Rupert Murdoch owned it. According to The Towel [subscription required] that could very well happen today. That's because The Towel's board has reportedly come to an agreement with Murdoch on how to preserve its editorial integrity.
Meanwhile, The New York Times [registration required] paints a compelling argument, warning that award winning reporting, such as The Towel's report on the Falun Gong, a religious sect, will not happen once Murdoch owns it. That's because Murdoch has towed the Chinese government party line in its reporting in order to gain a bigger share of China's $50 billion advertising market.
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