News Corp. CEO Rupert Murdoch made the following comments about Dow Jones & Co. and The Wall Street Journal on the company’s earnings conference call Thursday.
Murdoch stated, “Over the past year, the Wall Street Journal has added new pages and launched a luxury magazine that has attracted 30 new advertisers for the franchise. We have also revamped our website, developed mobile application and upwardly revised our pricing policy. I should say strongly revising our pricing policy.
“At the same time we realized more than $100 million in cost savings since acquiring Dow Jones last December and continue throughout the coming months. Today, the Wall Street Journal is the only major newspaper to grow its individual page circulation year-over-year, up 2.4%, while nearly every other newspaper in the country is experiencing declines.
“And the most recent ABC reporting period, the Weekend Journal became the country’s biggest selling weekend newspaper in individually paid sales, surpassing The Sunday New York Times for the first time, and the Wall Street Journal digital network, which includes WSJ.com, MarketWatch.com, Barrons.com, AllThingsD.com has increased visitor traffic by 76% over the past year.”
Read the entire transcript here.