• Reuters, et.al., Monday, April 26, 2010 11:58 PM

The Wall Street Journal is betting New Yorkers want an alternative to The New York Times, reports Reuters. And to entice advertisers onto the pages of the New York edition, the WSJ is deeply cutting the cost of a full-page ad and, as a bonus, throwing in a full-page ad in the New York Post, also owned by News Corp.

Some local businesses currently advertising in the WSJ can buy a full-page ad for $19,000, according to sources. That is a steep discount; full-page print ads in large newspapers can cost up to $90,000. It's the type of aggressive move Murdoch has become known for during his decades building News Corp. into a newspaper and entertainment titan -- and the Australian-born mogul appears to be relishing the fight, says Phsy.org. The 79-year-old veteran of the London circulation wars, throwing down the gauntlet to the Times, said the Journal's New York section would feature full color and would be "feisty."

However, The New York Times, which has been badly hit by the recession, said it is ready to take on any competition. It may also explain why the newspaper is searching for new revenue sources.

In an unusual packaging move, the New York Times Web site last Friday began streaming an entire new album of music by the National, an indie rock band, alongside the Web version of a story that the paper ran in Sunday's magazine, says The Washington Post. The Times views the move as both old-fashioned publicity and a step into the realm of multi-platform opportunities.

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