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Murdoch To Unload The Weekly Standard

Reported by Ellen - June 11, 2009 -

According to Jonathan Berr in The Daily Finance: "Murdoch's dreams of media dominance have largely been fulfilled through the acquisition of Wall Street Journal publisher Dow Jones & Co. As the LA Times argues -- correctly in my view -- Murdoch "may no longer really need The Weekly Standard" which reaches the same audience as the Journal albeit on a much smaller scale. Murdoch also may be trimming his print holdings, which Wall Street has considered News Corp.'s Achilles heal. Many of the print properties, including The Weekly Standard and the New York Post, are reportedly money losers or at best marginally profitable." The Weekly Standard is being sold to conservative billionaire Philip Anschultz. (Via News Hounds' Dan)