Not so fast, Rupert!

Before the ink on the contracts had dried and long before journalism’s purists stopped gnashing their teeth, word came Wednesday from the Federal Communications Commission that Rupert Murdoch’s purchase of The Wall Street Journal is still not a done deal.

Commissioner Michael J. Copps — not to be confused with 1980s television icon Michael J. Fox — issued a statement saying the deal needs to be reviewed by the FCC.

“This deal means more media consolidation and fewer independent voices, and it specifically impacts the local market in New York City,” Copp wrote.

He added, much to the delight of those decrying the purchase as a sign of the apocalypse, “What's good for shareholders of huge media conglomerates isn't always what's good for the public interest or our civic dialogue.”

Speaking of civic dialogue, what do you think?

-LOUIS LLOVIO, Daily Record Business Writer