Matthew Flamm of Crain’s New York Business writes that News Corp. CEO Rupert Murdoch‘s plan to make The Wall Street Journal more mainstream to compete against The New York Times could backfire.
“Die-hard readers are lamenting the changes. But the critical issue may be whether making the paper more like other ones is a good business strategy.
“‘He is going in the opposite direction from what has made the Journal distinctive and has made it perform better than the daily newspaper industry in general,’ says Ben Compaine, author of Who Owns the Media?”
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I'm usually a big fan of Murdoch's - but this is idiocy.
Sports in the WSJ? He is going to send legions of business readers to Investors Business Daily and the Financial Times.
What is the point of saying business is such a niche market segment that we're going to develop a TV channel around it - and then turning around in the same span of time and diluting the #1 business news brand out there?