The editorial page of The Wall Street Journal is as far right as they come, but, unlike Fox News, there is a distinction between the news and editorials. There is an institutional bias towards business and somewhat towards Republicans, but they do provide a valuable news source. This could change if Rupert Murdoch is successful in his bid to add The Wall Street Journal to his empire.
The probable outcome if Murdoch does purchase the paper is that, like Fox News, it will become an organ primarily followed by the true believers and the rest of us will have one less national news source of value. The staff of the paper is also concerned about this and spent the morning at home in protest. Both contract negotiations and the loss of journalistic independence were cited as reasons:
The Wall Street Journal’s long tradition of independence, which has been the hallmark of our news coverage for decades, is threatened today. We, along with hundreds of other Dow Jones employees represented by the Independent Association of Publishers’ Employees, want to demonstrate our conviction that the Journal’s editorial integrity depends on an owner committed to journalistic independence.