Cramer Responds to Barron’s, Hints Article Criticizing Him Was at Murdoch's Behest

August 21st, 2007 11:52 AM
CNBC “Mad Money” host Jim Cramer responded on his August 20 program to the August 20 Barron’s article that showed how his stock picks lag gains in the Dow, NASDAQ and Standard & Poor’s 500.

“In the face of what I … what we all think was a baseless, ugly article about me by a partner, which I found insulting to my audience and to your intelligence, I’ve been overwhelmed the past two days by words of kindness and support from you guys,” said Cramer.

Cramer referred to Barron’s as “a partner,” possibly referring to the agreement between Dow Jones & Co., which publishes Barron’s and The Wall Street Journal, and CNBC. The deal allows CNBC to use Wall Street Journal content through 2012.

Cramer mentioned media mogul Rupert Murdoch in his “Lightning Round” segment, where he answers calls from viewers with questions about certain stocks.

“I got a lot of people [who support Cramer] that feel that way, and you know what – I don’t work for [Rupert] Murdoch,” Cramer said.

Recently, News Corp. CEO Rupert Murdoch completed a deal for Dow Jones & Co. Murdoch stated he intended to use the assets of the Dow Jones & Co. to aid the Fox Business Network, which News Corp. is launching in October. The network would compete against CNBC, Cramer’s network.

“I want to stick with CNBC, my network who I play for and I want to stick with Cramer,” yelled Cramer.