Murdoch Tells Journal Newsroom He Wants a 'Better Paper'

When Dow Jones shareholders were voting this morning, Rupert Murdoch was at the News. Corp headquarters on Sixth Avenue. Later in the day, after Dow Jones and the Wall Street Journal officially became his, he took a trip down to the newsroom.

He spoke about their fears, and his expectations.

"We've come here to expand it, to develop it, and, where possible, to improve its product," he told the newsroom this afternoon, according to a transcript provided by News Corp. to the Observer. "I know that change is often difficult or creates nervousness. If it's particularly nervousness then certainly let us know. We're very accessible people."

Mr. Murdoch spoke alongside new CEO Les Hinton and publisher Robert Thomson. All three spoke, and Mr. Murdoch made clear that Mr. Thomson's job will be to deal with exclusively editorial matters, not business. Their speeches lasted a few minutes each.

"Our aim is pretty simple," Mr. Murdoch said. "We have to entertain, inform, enrich all our readers in their lives and in their businesses. We must be the preeminent source of financial information and comment in the world. And we must put ourselves beyond there being any doubt in that regard."

"But I just wanted to say that we do know and understand the tremendous values of Dow Jones and particularly, of course, the Wall Street Journal and the very high bar you have set yourselves," he said. "If anything, you will find us trying to set a higher bar. So we want to see a better paper."