News Corp's New York Post and the Wall Street Journal are offering discounts for ad prices, according to people familiar with the plan, the Financial Times reported.

The Wall Street Journal earlier announced to launch a New York edition in late April. According to the FT, by offering the discounts, Rupert Murdoch is trying to ramp up competition with The New York Times - which is a strategy similar to those he has used before to expand his business in other cities.

Photo: Bildungblog

The FT reported that discounts for full-page ads appear to be between 79 and 83 percent, Reuters reported.

According to the FT citing people briefing on the plans, Murdoch will invest about $30 million in 2010 and 2011, to back up the New York edition of the Wall Street Journal.

However, the company said the ad discounts were not as high as 80 percent and declined an investment as much as $30 million on the new edition, the FT reported.