As far as CEO Rupert Murdoch is concerned, News Corp. hasn’t spent any money — give or take a million dollars — on The Wall Street Journal‘s new “Greater New York” section.
Asked by a Bloomberg News reporter how much the company invested in “Greater New York,” which debuted on April 26 and prompted a humor-tinged PR war with rival The New York Times, Murdoch said, “I’m happy to tell you we invested nothing. Maybe we spent a million dollars preparing for it.” He said that advertising revenue has been supporting the section.
You can hear the conference call here.
(h/t The Wrap)