I have to say I've been following with some amusement a lot of the fretting over at Romenesko and elsewhere about the sale of the WSJ to Murdoch, which has apparently gone through. The basic storyline seems to be that there's something wrong with Murdoch's approach to "journalism." It isn't that I disagree, it's that where are these critics day after day? Murdoch's news organizations maintain their legitimacy in large part because the rest of the media treats them as legitimate. Most members of the industry happily buy into the fiction that Fox News isn't simply a propaganda arm of the GOP. They treat Murdoch's existing organizations with respect.
The WSJ's editorial page has been insane for years. And there's going to be a market for good business reporting. If Murdoch doesn't provide it, someone else will.