Keeping the ‘Wall Street’ in WSJ
Some Wall Street Journal staff have been grousing lately over the paper’s increasing devotion to political and general news because they worry that it will move business news off the front page — something that seems inimical to a paper with the name “Wall Street” in it.
Not to worry, says Dow Jones & Co Chief Executive Les Hinton, business news is still what the Journal is all about. Here’s what Hinton said in an interview in the March 27 edition of The Australian (also owned by Murdoch’s News Corp):
“Whatever happens to the design, the key thing is we will put more national news in it and more political news in it,” he said.
“But that will be through additional pages because what we will never do is forsake its role of being, above all, the world’s business newspaper.
“That is its place in the world, it is the reason it’s prospered.”
And as for a free WSJ.com? Don’t bet on it:
“You’d never say never, but it doesn’t seem like a logical thing to do … The initial thought was if we were not having a pay barrier, we could grow very quickly and get the resulting advertising … That frankly was probably a little bit simplistic because … it has over a million subscribers. … Without going into detail, we get tens of millions in revenue from it.”
We came to a similar conclusion a few months ago.