Heidi Moore intelligently highlights the following data dug out of a New York Times story on how the Wall Street Journal will soon be blowing a lot of money trying to kill the New York Times in New York:
- The New York Times has 1,100 journalists, circulation of 900,000, and an operating profit of $21 million (in 2009)
- The Wall Street Journal has 750 journalists, circulation of 2 million, and an operating loss of $80 million (year through June, 2009)
A few quick points:
1) The NYT has taken its (ghastly) medicine and cut enough costs to get back to profitability. This won’t last–the print paper will continue to decline–but these moves have bought the company time.
2) The WSJ appears to pay its journos a lot more than the New York Times. [UPDATE: Heidi Moore and others dispute this, suggesting that something else in the WSJ’s cost structure accounts for the difference. By “journos” here, we are including both editors and reporters.]
3) It’s a good thing Murdoch has all that cash gushing out of FOX to pay for this kill-the-New-York-Times crusade.
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