Rupert Murdoch is finally acknowledging what everyone already knew: that the Wall Street Journal is prepping a New York section to take on the New York Times – and, he says, the New York Post.
"You’ve probably already read a little about the new section on New York we’ll be launching next month," Murdoch said on Tuesday in a speech to the Real Estate Board of New York. “We’re adding a whole new section and taking on reporters and editors. We believe that in its pursuit of journalism prizes and a national reputation, a certain other New York daily has essentially stopped covering the city the way it once did.”
Murdoch continued: “In so doing, they have mistakenly overlooked the most fascinating city in the world – and left the interests and concerns of people like you far behind them. I promise you this: The Wall Street Journal will not make that mistake.”
So what will the new section look like?
“I can’t tell you all the details,” Murdoch said. “I can tell you that the new section will be full color – and it will be feisty. It will cover everything that makes New York great: state politics, local politics, business, culture, and sports. Oh yes – and real estate. Why are we expanding where others are pulling back? Because we take a different view of technology and value. Too many newspaper editors and owners are afraid that technology is harming the value of our product. The truth is just the opposite: technology is putting a premium on content.”
The Journal has been staffing up for a run at the Times for months.
Murdoch said the section will also serve to push his other New York paper, the Post.
“I’ve always believed that competition starts at home,” he said.
Read a transcript of Murdoch’s entire speech here.