Wall Street Journal Eying L.A. Times' Turf
The Journal's possible invasion of L.A. was outlined by Dow Jones & Co. CEO Les Hinton, who told company employees at a meeting this week that Los Angeles and Chicago were possible targets of a local edition of the Journal, according to Bloomberg News.
Both cities are dominated by newspapers owned by the bankrupt Tribune Co. Both papers, like most in the nation, have suffered steep declines in advertising and subscribers and have been scrambling to make transitions to online business models.
It's targeting of the Los Angeles and Chicago markets isn't unusual. Like San Francisco, papers in those cities have been struggling, and the Journal probably senses blood in the water.
The Journal has also become of the envy of the newspaper world because it has found a way to charge online readers for "subscriber content." But that luxury seems to only be afforded more specialized outlets.