Murdoch won't spend wildly in WSJ newsroom

Joseph Menn of The Los Angeles Times writes Monday that News Corp. CEO Rupert Murdoch isn’t expected to spend a lot of money in The Wall Street Journal‘s newsroom in his bid to compete against the New York Times.

Instead, the strategy will be elsewhere, like cutting the newsstand price.

Menn wrote, “Analysts don’t see Murdoch spending wildly in the newsroom to try to become the nation’s new paper of record.

“‘It’s not a Post versus [New York Daily] News, where he’s clearly, clearly out to beat up the News,’ a different senior News Corp. executive said. ‘He’s not in the mood with the New York Times, at least in the U.S.’

“In addition, the Journal is already considered a first-rate production editorially. It’s ‘a premium product, for a premium audience, which is doing fine with premium advertising,’ said Ed Atorino, an analyst with Benchmark Co. in New York.

“Rather than wholesale change, Lemann said, Murdoch might move the Journal toward the Times in depth and breadth while developing a more populist voice.”

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