Ain’t that the truth. Here’s some more gospel:
Still, I miss the Journal’s depth and insight into business coverage. It’s just not as interesting a read as it was before Murdoch. The formerly wonderful and eclectic Marketplace section has been gutted, for instance, and a lot of the paper’s former personality has gone by the wayside. That’s what made it valuable and unique, and I daresay it’s one of the things that made its much-vaunted online subscription model a success. Subscribers paid for the online(and offline) version of the Journal because there was nothing like it as a source of vital, interesting and readable financial news and information.
As a general-interest publication, however, the Journal is much less distinct. Murdoch may win the war of attrition with The New York Times, but in victory, the Wall Street Journal may no longer be really special.
I’ll confidently predict that the Journal won’t win any war of attrition with The New York Times. It doesn’t come anywhere near reproducing the breadth of coverage that the Times does—except in business—and the Times’s business coverage of the crisis last year was often more like the Journal’s than the Journal’s itself.
The NYT isn’t going anywhere, no matter what Murdoch or the ad market does. There are too many rich folks who would love nothing more than to add a few paragraphs to their obits by snagging that trophy.
Murdoch’s already got his. By moving on to the Times’s field of battle, he’s leaving his own flank partially exposed.