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Duly Quoted Was Wsj A Big Fat Waste Of Dough

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by Jeff Bercovici
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Nov 21 2008 4:10pm EDT

Duly Quoted: Was 'WSJ' a Big Fat Waste of Dough?

"We believe Rupert Murdoch is fundamentally wrong in his view of Newspaper and Television Station secular growth prospects. Our mistake in having a BUY on News Corp., despite this view, was not comprehending the degree to which these assets could decline within a single 12-month period."

-Outspoken Pali Research analyst Rich Greenfield in a report on News Corp. issued yesterday. Noting the "stomach churning" fact that the acquisition of Dow Jones had a negative effect on operating income, Greenfield went on to say that "News Corp. would have created more value for investors by donating $5.7 bn to charity than buying DJ.". □

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