"The Wall Street Journal is the greatest newspaper in America and one of the greatest in the world," said Rupert Murdoch in a conference call concerning News Corp's 22% rise in annual profits yesterday. "That's why we put such a premium on it and why I spent the better part of the last three months enduring criticism normally levelled at a genocidal tyrant." Poor thing! We're sure he only expected the kind of soft-pedalled criticism his papers generally direct at the tyrants in China. Anyway, what's gonna happen to Dow Jones once they hand Rupe the keys?
- The Journal may drop it's hefty subscription fee for online content. "It would be an expensive thing to do in the short term but in the long term it would be a wonderful thing to do."
- Dow Jones' local newspaper holdings will be sold off. Maybe Jim Ottaway can buy his old papers back!
- Murdoch claims he wants to hire more staff for the Journal, which, given the number of exits we expect to see from that paper in the immediate future, probably makes sense.
- Murdoch denies plans to lower rates in an effort to lure advertisers away from the Times.
A full transcript of the call can be found here.