Rupert Murdoch announced yesterday that he intends to double the price of the NYPost beginning May 19, perhaps concluding that with the reportedly imminent purchase of Newsday the money is bound to find a way to his pockets one way or another.
The Post experienced a similar price hike last year, one which was quickly reversed in the face of rapidly dropping sales. This time it looks like the hike may stick. While Rupe says the extra quarter is all about stemming the Post’s estimated annual loss of $50 million, Jeff Bercovici over at Portfolio suspects Murdoch has “his sights set on a higher target…a Post-Newsday tag team might eliminate the News from the picture altogether.”
According to Rupe, we might not have to wait that long to find out; E&P is reporting that Murdoch has “signaled that he will be the owner of Newsday as early as next week,” and that we should all “just be patient a couple of days.”