John Koblin of The New York Observer writes Monday that The Wall Street Journal has a new book policy for its reporters where the paper will take a cut of the book’s proceeds if it is based on reporting while at The Journal.
Koblin wrote, “It’s never spelled out explicitly in the memo, but word spread quickly in the newsroom about one of the hard-to-swallow side effects of the new policy: The Journal now has the right to take a fee from the proceeds of a book if it uses reporting obtained on assignment for the paper.
“‘In some cases, the Journal seeks a share of the proceeds from a book that originates with Journal reporting,’ said Robert Christie, a spokesman for the paper, explaining the new policy. ‘In turn, the Journal supplies marketing and advertising support for the reporter’s book.’
“The new policy didn’t go over well with the newsroom.
“‘It’s completely ridiculous,’ said one unhappy reporter. ‘The reality is they don’t want you to write books. They don’t want to lose people—this is a deterrent.'”
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