News Corp. papers The Wall Street Journal and the New York Post are practically giving away ad space as Rupert Murdoch ramps up his attack on The New York Times, according to a report by the Financial Times:
In presentations to potential advertisers seen by the FT, News Corp appears to have offered discounts of between 79 and 83 per cent for full-page ads in the Journal and the Post.
Looks like Murdoch’s willing to take a big ding to the wallet if it means weakening The New York Times. Says the FT: “Mr Murdoch plans to spend $30m in this and the next fiscal year to fund the expansion of the New York edition of the Journal, according to people briefed on the plans.”
The report also indicated that News Corp. was willing to sell a full-page ad in the Journal and throw in a banner ad in the Post for around $19,000. A full-page ad in the Times costs around $175,000 — more than nine times as much.
The FT report comes as The Wall Street Journal readies the April 26 launch of its New York metro section in a direct assault on the Times‘ news coverage.
Although the Times is quick to tout its greater influence and circulation, one has to wonder if ad buyers might reconsider buying ads from News Corp. at such a huge discount.