The parent of The Financial Times isn’t worried about what Rupert Murdoch will do to change The Wall Street Journal, arguing that its American rival will remain just that — an American newspaper, writes Tim Luckhurst of the Sunday Independent in London.
“Pearson claims that the WSJ remains a predominantly American title, which has focused in recent years on consolidating its domestic dominance. The spokesman says: ‘A world audience of opinion formers is hard to build, but enormously valuable. To win that market we set out our vision of putting business and political news in a global context several years ago. That is why we are making big profits and we are confident about the future.’ Pearson claims the WSJ has a long way to go to match the FT’s global prestige as a flagship title for international opinion formers.
“It is fighting talk, but while the FT’s reputation remains potent, Press Gazette’s Mr Ponsford warns: ‘Mr Murdoch will soak up losses for years to beat off competition. The FT can’t do that. It has to deliver to Pearson’s bottom line.'”
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