On the same subject, Howell Raines, former editor of the New York Times, reminds us of the true drive of the new owner of the Wall Street Journal: competition. In 2002, in a discussion about how to compete against the WSJ, Murdoch gave Raines a piece of advice : “You ought to hit them where they live,” he said of the Journal. “Go after hard business news and beat them on their strength.” Times people know what to expect from someone who reportedly send a handwritten note to Arthur Sulzberger after the acquisition saying : “let the war begin”.
> story in Portfolio
Related columns:
- Romenesko, the Pope of second-hand journalism TweetFor many of us involved in the transition from digital to print media, Jim Romenesko was an early warning of what was about to happen to the industry. On his blog — always spartan — he has been gathering information at various stages of elaboration, from gossip to more fact-checked content. In his excellent column [...]...
- Substituting pennies for dollars TweetFor each dollar it gains in online advertising revenue, the New York Times looses six dollars in print ads. See the first quarter financial results released last week by the company Q1 2008 yielded a loss of $335,000 for the period compared with a net income of $23m for Q1 2007. Advertising revenue is down [...]...
- Truce at the NY Times TweetThe New York Times Company has reached a deal with Harbinger Firebrand, the hedge fund that was knocking (hard) on its door. For the first time since it became public in 1967, the Times will open its board to outsiders. The two new directors will advocate asset sales (the Boston Globe for instance) as well [...]...
