The Wall Street Journal is offering some businesses firesale prices for full-page ads in its highly anticipated New York edition to seduce advertisers away from The New York Times.
Wall Street Journal Managing Editor Robert Thomson and other executives plan to unveil the edition during a press briefing on Monday morning.
The section will cover local news, culture and sports, and will be incorporated within the Wall Street Journal. It will be circulated in the New York area.
Rupert Murdoch, whose News Corp owns the Journal, is betting that New Yorkers want an alternative to the Times, and he is willing to risk the ire of any shareholders not interested in pulp and ink.
To entice advertisers onto the pages of the New York edition, the Wall Street Journal is deeply cutting the cost of a full-page ad and, as a bonus, throwing in a full-page ad in the New York Post, also owned by News Corp.
Some local businesses can buy a full-page ad for $19,000, according to a Wall Street Journal presentation to advertisers that was shown to Reuters by a source. That is a steep discount to full-page print ads in large newspapers that can cost up to $90,000.
A Dow Jones source, who spoke on condition of anonymity, said only a few New York area businesses not currently advertising in the Wall Street Journal or the New York Post were being offered the discount.
The newspaper industry, already weakened by a migration of advertising to the Internet, has been roiled by one of the worst economic downturns in generations.
Days before the new edition of the Wall Street Journal was due to hit the streets, several newspaper companies, including the New York Times Co, published quarterly financial results that revealed it could be a long road back to ad revenue growth.
The Wall Street Journal, however, showed advertising revenue growth in the first quarter.
The Wall Street Journal has long been viewed as a vehicle to reach national audiences.
Under Murdoch, the Journal has the coffers to fund the experiment. The newspaper already produces a weekly section dedicated to San Francisco and it cranked up distribution in Detroit when the Detroit Free Press and the Detroit News cut home delivery.
(Source: Reuters)
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6 Responses
If this newspaper actually carried good local and International news it would be a great alternative to the liberal, antisemetic, anti Israel New York Times. I actually wish that the Hamodia would have a sports section. That would really be the best alternative.
This is unfair.
The WSJ requires its reporters to report the news and doesn’t let them make it up, not to mention they keep the opinions on the editorial and op ed pages, and out of the news. Unless the Times wants to go back to be a grat newspaper, how can they compete????
I get the WSJ and not the NYT because I like the conservative editorial stance and because it does not have the pornographic advertisements found in the NYT. I hope it remains that way.
so tell me what does this have to do with the Yeshiva World???
akuperma, would you mind translating your gobbledy gook for the rest of us?
ZeitBsimcha, there is a chochma to reading the Journal. If I had the time, I would read it all of the time. You read the editorials first and then the rest at your leisure. It is a wonderful newspaper that has a very strong pro-Israel record.
Your Sister, akuperma was speaking tongue in cheek, correctly implying that the reporters for the NY Times make stuff up, and report their opinions as fact instead of restricting them to editorials. (And I believe “grat” was a typo for “great.”)