Rupert Murdoch's proposed takeover of Dow Jones, publisher of the Wall Street Journal, has been challenged by a member of the Federal Communications Commission. In a letter to the FCC chairman, Michael Copps said that the deal was "unprecedented" as it would leave Murdoch's News Corp in control of a "big four" broadcast network, Fox, and two of the nation's five largest newspapers, the WSJ and New York Post.
The call for an examination of the bid raises the possibility that the deal could face more scrutiny in Washington than has so far been anticipated. However, most legal experts agree that the FCC does not have the jurisdiction to block the News Corp deal because current media ownership rules do not apply to national newspapers. (Via FT.com)
