Media Moves

Murdoch: WSJ has too many editors

May 29, 2008

News Corp. CEO Rupert Murdoch spoke at the All Things D conference on Wednesday, and Paid Content’s Rafat Ali noted that he made several comments about his newest property, The Wall Street Journal.

Here are some excerpts:

Rupert MurdochOn keeping WSJ/Barrons as subscription: “When I saw how much money they were making, I changed my mind on it. People can pay a lot more than we are charging, from $50 a year to $150 million…We have 2000 great journalists….if we can’t fashion something great out of it, then we have something wrong,â€? he said, elaborating on the premium product that WSJ can build on.

Keeping on building up WSJ: “Every piece of story in WSJ has on average about 8.3 editors involved…that is ridiculous. You have to get all of the facts in in half the space…New York Times charges $500 a year for subscription…now we charge about $150 a year. We still have a long way to go.â€?

Read more here.

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