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Jul 5
Rupert Murdoch Purchase of WSJ Gives Us All a Lesson in Negotiations

While liberals fret and worry over the pending purchase of the already conservative Wall Street Journal to conservative business tycoon Rupert Murdoch, let me briefly point out a great lesson for anyone enjoying a sales career: Negotiations made this happen.

Sales professionals don't like the word "negotiate" because they usually take it to mean "talk-until-my-commission-suffers".

That's the wrong way to look at, in my opinion...

Back to Murdoch's purchase of the Wall Street Journal: There were (are) concerns that Rupert Murdoch WSJ purchasehis ownership of the widely influencial financial newspaper would be a conflict of interest, and that he might sway editorial positions to favor his own.  So, in order to get the deal done, he agreed to a negotiating point: That an independent oversight board be developed to oversee the editorial page content (now if we could just get MSNBC, CNN, NBC, CBS, ABC, Newsweek, Time, The Washington Post and The New York Times to agree to the same thing, we'd be getting closer to a level playing field...but I'll leave that campaign to Bill over at ElephantBiz).

What happened?  The deal looks to be done.

The lesson for sales professionals?  Negotiations are a normal part of any sales deal, whether it be for a new copier or a new arm of your mass media empire.  You need to expect negotiations, work to find a win-win solution, and then close the deal.

Rupert Murdoch has accomplished that in negotiating to purchase the Wall Street Journal.  Tweaking the ultra-left in the process is just one of the perks to getting the deal done. Wink

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» Rupert Murdoch Wants the Wall Street Journal, MySpace and More from MarketingBlurb
Rupert Murdoch, the media tycoon and man behind successes like Fox News, has a lengthy shopping list to build up the News Corp arsenal.  According to an article on FT.com recently, Rupert Murdoch's growth plans go much deeper then the imm... [Read More]

» Rupert Murdoch, Wall Street Journal, Dow Jones News from Know More Media
Rupert Murdoch and his attempt to buy Dow Jones in order to control the Wall Street Journal and other key media assets has been a hot news topic of loate.  Last week a number of Know More Media authors covered... [Read More]

» News Corp and Rupert Murdoch Gets the Vote from BizCradle
Rupert Murdoch is the master of negotiations, and his latest win will see him take control of the influencial Wall Street Journal.A snipet from the latest on the deal:The Bancroft family (current majority shareholders of the WSJ) remains sharply divide... [Read More]

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