As shareholders of rival paper The New York Times assemble on Tuesday morning for its annual meeting held at the company’s glittering new headquarters near Times Square, Murdoch took steps to accelerate the remaking of the Wall Street Journal in his image. WSJ is set to announce today the resignation of its managing editor Marcus Brauchli, who is leaving 11 months into the job and just a few months following the closing of Murdoch’s $5 billion purchase of Dow Jones. Murdoch appointee and publisher Robert Thomson will take over the top editorial spot in the interim, according to news reports.
Meanwhile, News Corp deal makers across town appear poised to reach a deal to relieve real estate magnate and Tribune Chief Sam Zell of his Newsday newspaper for about $580 million to create a joint venture to combine Murdoch’s New York Post and other assets with Tribune’s paper. The Newsday deal is expected to cut about $50 million in annual losses at the Post.
Then, quietly, Murdoch left the door open to a possible joint bid with Microsoft to buy Yahoo during a question and answer session at an event in which he was honored. Brauchli, the New York Times reported, attended the same event in Washington DC.
Keep an eye on:
Viacom CEO Philippe Dauman may be conspiring to eliminate CBS Chief Les Moonves. (New York Post )
Bambi’s getting company. Disney launches a new nature film label, Disneynature. (Reuters)
MySpace snubs Fox for NBC News in new political site. (Hollywood Reporter)