OLD Media Moves

Watching Marketwatch's future

December 3, 2007

Posted by Chris Roush

Dan Fost writes in the latest issue of Fortune about the future of Marketwatch after it becomes part of the News Corp. media empire with the acquisition of Dow Jones & Co. later this month.

One of the issues is that News Corp. CEO Rupert Murdoch wants to make The Wall Street Journal‘s web site free. Fost wrote, “MarketWatch itself could also be threatened by the move. After all, is there any point in having two free financial news sites, MarketWatch and WSJ.com? ‘I don’t see what positioning MarketWatch can have if there’s a free WSJ.com,’ says Rafat Ali, editor and CEO of PaidContent.org.

Marketwatch“In an interview last month, David Callaway, MarketWatch’s editor in chief, said he had had preliminary discussions with News Corp., but would not comment for this story. (News Corp. and Dow Jones declined to comment as well, citing the deal’s pending close. The Dow Jones shareholder vote on Dec. 13 should be the last big hurdle for Murdoch.)

“Last month, however, Callaway noted to me: ‘I’ve always been firmly on the side of eyeballs. That’s what helped build our brand.’

“And a free Journal site wouldn’t necessarily hurt MarketWatch, according to MarketWatch’s co-founder and former CEO, Larry Kramer.”

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.