The authority on wealth

Matthew Flamm of Crain’s New York writes about the plans behind The Wall Street Journal‘s new upscale magazine, which were presented to potential advertisers on Thursday.

Flamm writes, “Promising a smart, lavish, highly visual publication with a sense of humor, Ms. [editor Tina] Gaudoin announced that WSJ. would be ‘the authority on modern wealth.’ Its target audience would reach sophisticated consumers making upscale buying decisions and ‘the emerging market’ consumer in places like India and China.

“Though it will look like nothing else produced by the Journal, the magazine will utilize the newsroom resources of the paper, which has increasingly expanded its coverage to include fashion and lifestyle subjects.

“‘It’s a natural extension of what the Wall Street Journal is about,’ said the paper’s managing editor, Marcus Brauchli.

“A weekend lifestyle magazine has been in the planning stages for several years at the Journal. The paper has sought to broaden its advertising base to counter the erosion in its core categories of finance and technology. The launch will be the first brand extension under News Corp., which acquired the Journal’s parent company Dow Jones & Co. last year.”

Read more here.