Are the Murdochs fit and proper people?
The Financial Times of London has argued that the Murdoch controlled Fox’s second bid for The UK's Sky television deserves proper scrutiny. In an editorial the FT argues that while with most products, at most times, market competition does an excellent job supplying consumers’ appetites, in a democracy, information is not just any product. The market may give consumers the information they want, but there is little economic reason to think it will supply citizens the information they need. A wide variety of information and opinion must be available. It is a key job of democratic institutions to ensure that this happens. This is why media mergers are exposed to intense scrutiny. The editorial concludes: When it comes to the fit and proper test, the allegations of sexual harassment at Fox News, following as they do the phone hacking scandal at the newspaper arm of the Murdoch empire, raise serious questions. In both cases, failings of corporate culture were endemic, with senior...