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WSJ Invades NYT's Ad Turf

Bloomberg, Monday, November 24, 2008 9:15 AM

Competition between The New York Times and The Wall Street Journal is heating up as the U.S economy sours. The Journal's expanded news coverage and new lifestyle magazine are starting to attract wealthy consumers and luxury advertisers from the NYT, such as Saks, a Times advertiser since 1924. Dolce & Gabbana SpA and LVMH Moet Hennessy have also started advertising in the Journal.

Circulation at both papers is also shifting. The Journal's average individually paid circ rose 2.4% to 1.4 million as of September, compared to a year ago, per the ABC. The Times' slid 5.5% to 858,985 on that basis.

The Wall Street Journal owner, the News Corp., has the resources to keep investing in the newspaper, despite the downturn, say experts. But the Grey Lady has not been as aggressive. "If this becomes a prolonged recession, it becomes an advertising war, and it becomes a matter of who can tough it out longer," says Wachovia analyst John Janedis.

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