Murdoch Continues To Add To His Stable Of NYC Suburban Newspapers

While almost everyone is concentrating on whether Rupert Murdoch will get his hands on Dow Jones for some $5 billion, Murdoch himself has not taken his eye off another strategy – buying up local newspapers in the New York City suburbs so that he can offer joint advertising packages with his New York Post.

News Corp has added to its New York suburban newspaper empire the The Bronx Times and The Bronx Times Reporter that have a combined circulation around 40,000. The Bronx Times started life as a free tabloid in 1981.

Murdoch began his New York City suburban newspaper buying spreee with 28 community newspapers in the Brooklyn and Queens suburbs of Manhattan for around $16 million.

Murdoch’s priority is to stop the red ink at the New York Post. The Post does well in Manhattan but its arch competitor, The Daily News, does better out in the boroughs. By buying the weekly suburban chains located in the News’ stronghold, the Post can work on synergies between the metropolitan newspaper and the community papers, not just journalistically but by offering converged advertising packages.  Combined all of those suburban newspapers have a circulation around 300,000.  - July 9, 2007

Keywords:local newspapers,Rupert Murdoch

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