The Rise and Fall of New York Newspapers: WSJ Up, NYT Down
The demise of the newspaper industry may be imminent but that isn’t stopping Rupert Murdoch from expecting Wall Street Journal readers to cough up an extra fifty cents for his (newly improved?) paper. Starting July 28 the paper’s price will go from $1.50 to $2.00. Rupe is not shy about raising his prices, this past May he doubled the price of the New York Post from twenty-five cents to fifty.
Meanwhile, farther uptown the NYT Co. saw its stock fall another 2.73 percent, meaning that it has dropped a total of 15 percent in one week. The continued drop is being attributed to last week’s declaration by Lehman Brothers analyst Craig Huber that the NYT Co. “stock was pricey relative to its peers.”
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