WALL STREET — Rupert Murdoch has purchased Churchill Downs.


As Jason Horowitz wrote in today’s New York Times, Murdoch was the guest of Tea Party presidential candidate Rand Paul at the Kentucky Derby on Saturday.


Murdoch’s News Corp. (now 21st century Fox) owns, among other things, The Wall Street Journal and Dow Jones & Company. His net worth is estimated at north of $13.4 billion.


“I’m very pleased that Churchill Downs has a friend in Rupert,” Robert Evans, one of the principles of Churchill Downs, said to a solitary reporter. “But I hope he won’t allow all those bourbon-swilling racing fans to hack into each other’s phones.”


“We are Southerners, and we believe in hospitality."


For his part, Sen. Paul expressed fervent hope that Murdoch will bankroll his campaign for president. “That’s what freedom is all about,” Kentucky’s junior senator said, “being able to buy whatever you want, especially a president."

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