The Bancroft family finally caved to greed, and crowned Rupert Murdoch king of the Wall Street Journal. Family members earlier had stated they were reluctant to sell to Murdoch, fearful that he would turn the Journal into the Post (which is really kind of stupid-haven't they been reading their own editorial pages? The Journal already IS the Post! The editorial page of the WSJ is actually so spectacularly and predictably dishonest it's hard to see how Murdoch could do it any harm, frankly).
There's likely to be lots of groaning and hand-wringing in the journalistic community about how this signals the death of serious journalism in this country, but in reality, they've got no one to blame but themselves. By pimping themselves to outfits like the Post and Fox News, the reporters in this country have done as much to impinge journalistic credibility as William Randolph Hearst ever did. More, in fact. While Murdoch may be the general, he cannot implement the coup by himself. He needs foot soldiers. Interestingly, the reporters at the WSJ are unionized and have staged at least one walk-out protesting the sale of the WSJ to Murdoch. We'll see how many stick to their principles now that he is, in fact, their boss.)