(CNN)–Sen. Chris Dodd, D-Connecticut, Wednesday objected to the pending purchase of Dow Jones and Company, the parent company of the "Wall Street Journal", by News Corp.
News Corp. owns the FOX network, the FOX NEWS cable channel, the New York Post and hundreds of other media entities.
"I am deeply troubled by the incredible amount of consolidation occurring across the American media landscape," the Democratic presidential candidate said. "The power of the media is swiftly being limited to a few controlling hands, which poses a serious threat to our democracy. The foundation of our democracy rests in our ability to hear from a diverse array of sources so that we can make informed decisions. The Wall Street Journal has provided a valuable and important news choice to the American public for years."
After three months, News Corp. chief executive and media tycoon Rupert Murdoch finally succeeded in his efforts to purchase Wall Street Journal publisher Dow Jones and Company
in a deal the companies valued at $5.6 billion. In a joint statement, News Corp. and Dow Jones announced early Wednesday that enough members of the Bancroft family, which own a controlling stake in the publisher of The Wall Street Journal, agreed to approve the takeover.
Dodd, who represents Connecticut in the Senate, said he was concerned about the paper's ability to maintain editorial independence under News Corporation ownership.
–CNN Political Desk Editor Jamie Crawford