The NYT would be better under Murdoch, but judging by Fox, it would not be conservative. I think there is a place for fair and balanced, but given all the left wing media out there, there is also a place for conservative media. Not lying, biased reporting, but truthful reporting by people who choose what is important based on conservative values.
Rush succeeds because people want to hear the conservative side. He doesn't make a pretense of being balanced, but he also doesn't make crap up.