Sarah Rabil of Bloomberg News writes Friday about how The Wall Street Journal has been enticing advertisers that have traditionally only run ads in The New York Times in an increasing battle between the two papers.
Rabil writes, “The Times is also expanding financial news coverage, executive editor Bill Keller said. While Keller says the newspapers aren’t locked in a ‘mano-a-mano death struggle,’ he can name more than 25 business stories where the Times beat its New York rival this year.
“‘When somebody says he’s willing to spend the bank to become the new version of the New York Times, you watch them closely,’ Keller said in an interview. The Journal is the first newspaper he reads every morning after the Times.
“Keller isn’t the only one eyeing the competition. Michael Rooney, the Journal’s chief revenue officer, said he flips through the Times everyday to see who’s advertising and instructs sales people to contact potential clients.
“News Corp. has the resources to keep investing in the Journal, said Wachovia Capital Markets analyst John Janedis. The Times hasn’t been as aggressive, he said.”
Read more here. Disclosure: Rabil graduated from the business journalism program at UNC-Chapel Hill.
