Raymond Snoddy on Media: Logic says WSJ is safe with Murdoch.(Rupert Murdoch)(Wall Street Journal)

It's not as much of a racing cert as Frankie Dettori, but Rupert Murdoch becoming owner of The Wall Street Journal before the summer is out is a decent punt.

It is possible that the publication's controlling Bancroft family will meet the irrepressible media tycoon only to tell him to clear off. Such a thing happened once before when Murdoch's target was the Financial Times. The then-Pearson chairman Lord Blakenham made it very clear to him over a very English afternoon tea that the attentions of such colonials were unwelcome. And that was that - apart from Murdoch's lingering sense of grievance.

The current circumstances are entirely different. The Wall Street Journal does not seem …