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The Wall Street Journal’s subscriber-based web site will likely be converted to a free web site once the acquisition of Dow Jones & Co. is complete, News Corp. Chairman Rupert Murdoch told shareholders in Australia Tuesday.
The ad revenue generated by a free site would outstrip lost revenue from the subscription service, he said. The Journal’s web site currently generates about $50 million a year in revenues from a million subscribers.
The $5 billion acquisition of Dow Jones & Co. by the News Corp., which includes Fox New Channel and Fox Business News, is expected to be approved in the fourth quarter.
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism