Media quote of the day, via the reliable old lightning rod Rupert Murdoch, during a conference call discussing News Corp.’s quarterly earnings.
Question: Can you tell us how much you invested in the launch of the Wall Street Journal’s Greater New York section?
Murdoch: I would be happy to tell you. We invested nothing. We spent a million dollars preparing it, but advertising through June is more than paying for it. Any talk of us spending $30 million in a war is b.s.
More to read:
Newspapering as Blood Sport: WSJ vs. NYT
News Corp. Profit Soars on Back of ‘Avatar’
WSJ Launches ‘Greater New York’