Murdoch to celebrate Dow Jones acquisition with advertising blitz
By Leah McBride Mensching, Thursday 13 December 2007 at 23:09 :: Media Ownership :: #976 :: rss
Rupert Murdoch will celebrate his News Corporation's takeover of Dow Jones & Co. with a massive $2 million advertising campaign to appear in newspapers around the globe tomorrow.
“Today the greatest brand in financial journalism joins up with the world's most restless global media company,” the ad will state, according to a report by MediaGuardian today.
News Corp.'s $5 billion acquisition of the Wall Street Journal owner is was officially completed today, MarketWatch, part of Dow Jones, reported today.
Dow Jones is the parent company of The Wall Street Journal, MarketWatch, Barron's and Dow Jones Newswires.
The Journal's biggest global financial news rival, the Financial Times, is will not run the ad.
“We have refused to run it,” an FT spokesman confirmed to MediaGuardian. “But we will reconsider if they can substantiate the claims made in the advert.”
The only other newspaper around the world News Corp. approached that will not run the ad is The People's Daily in China. Other News Corp. rivals, including the Daily Telegraph, the Guardian, the New York Times, Washington Post, Los Angeles Times, Singapore Straits Times and the Jakarta Post are running the three-page advertisement, which will contain the headline “Free people, Free markets, Free thinking,” MediaGuardian reported. News Corp. titles the Melbourne Herald Sun and the Australian will also feature the ad.
Murdoch told investors in November that he plans to move away from the Journal's paid-content model, making the online edition free, a move that he said would take the site from the current one million subscribers to 10 to 15 million readers from around the world. He also told the Australian he plans to expand the Journal's print edition by 15 to 20 percent, MarketWatch reported.
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