News Corp. CEO Rupert Murdoch is in Australia, and he’s talking about the huge effort the company is putting behind The Wall Street Journal.
“The WSJ is the only newspaper in the world successfully operating a subscriber website, he claims, with a large number of subscribers paying considerable sums.
“It’s averaging $100 per subscriber — around $US120 million a year. We are putting up rates and the numbers are increasing, he adds.
“On the print side, he says that last month the WSJ was probably the only newspaper in America that managed to increase print advertising revenue. Then he adds ruefully ‘it was just an increase and I do not expect it to be maintained.'”
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