• Germany edition
 
Murdoch to launch Wall Street Journal in German
Photo: DPA

Murdoch to launch Wall Street Journal in German

Published: 12 Aug 2011 16:30 GMT+02:00
Updated: 12 Aug 2011 16:30 GMT+02:00

The Australian-born media tycoon, who has been battered in recent weeks by the snowballing UK tabloid phone-hacking scandal, is set to launch his online edition in late November or early December, the Swiss business daily Tagesanzeiger reported.

The bold move will shake up the German-speaking media market and constitute a full-frontal assault on the current web leaders for business news, the Financial Times Deutschland and Handelsblatt. It will target all the German-speaking areas – not just Germany but also Austria and German-speaking parts of Switzerland.

The German WSJ will begin as an online service only. It will initially be free but will begin after some time to charge for some content, though what payment model will be used is yet to be decided, the the Tagesanzeiger reported.

It is unclear whether there will later be a print edition.

Industry insiders said Dow Jones, which publishes the WSJ, would spend about €15 million to kickstart the online venture.

“This is the biggest project cost for Dow Jones this year,” said a senior editor at the WSJ.

It will employ about 40 people, who are being recruited at the moment. Murdoch’s deep pockets and Dow Jones existing network of journalists will give the new online paper a strong advantage over competitors the FTD and Handelsblatt.

“We want to fill a hole in the German market and bring in content from the Anglo-American and Latin American regions, where German correspondents are not for most part well-established,” a Dow Jones editor said. “The Financial Times Deutschland for example is a purely German product.

Some of the stories will be taken from Dow Jones’ existing network and translated into German. The rest will come from the new team of journalists in Germany.

The Local/djw

The Local (news@thelocal.de)

Don't miss...X
Left Right

Your comments about this article

17:17 August 12, 2011 by Sastry.M
Die wiederaufbau der "Wall" auf alle Euro Strassen!
17:34 August 12, 2011 by ECSNatale
This piece of manipulative, egomaniacal, law breaking scum should not be allowed to set foot in Germany let alone pollute the media here. BOYCOTT!
18:34 August 12, 2011 by expatriarch
If only people could look past the "sexiness" of Wall Street and see it for what it really is; a scam. It is a racket devised to siphon off money through varying and multiplicative methods that are made to look beneficial, but are really only so to the scammers. The Wall Street Journal was the newsletter for the exploiting class, with Murdoch's acquisition, it has become the newsletter of the heinously exploiting class.

Don't get me wrong, I am not an anti-capitalist, but wall street and the whole current financial industry is a racket. Alone the existence of Wall Street, or any centralized financial district for that matter, is proof that something not right in this day and age. In an information, digital age there is not good reason for so much financial "power" to be concentrated in any single area if it were not corrupt. The whole industry operates on creating as little transparency and real competition as possible and making sure that no one in the inside spills the beans. It is a hive of corruption and crime against people who actually work and are the ones who really drive any economy over the long run.

Wall Street does not like to hear that workers are actually the ones who fuel economies, because it is far more lucrative to run a scam on people than actually work for it. It is why all efforts to even look in the direction of workers rights, regulating the finance industry, unions, breaking up monopolies, forcing openness, etc.; are all resisted with "massive resistance" reminiscent of other American rackets like slavery. Rich white people who live off exploiting others do not like to be told they cannot exploit people.

At least if the WSJ were to enter the German market, the civil (even if sometimes a little too rigid rules governing news media) would possibly keep them under control. But mark my words, they would and probably are and have been working hard lobbying to break down all resistance to naked manipulation and support for exploitation, one chisel impact at a time.

The Wall Street Journal would have been what European monarchs would have been reading (the present version of which make up their core readership) because it extols the same values of exploitation, manipulation, racketeering.
18:38 August 12, 2011 by storymann
Murdoch has admitted Manipulating the News for Agenda and admits he supported the Bush Agenda in Iraq ,his entrance into Germany most likely will be of value to him and his nefarious organization more than to Germany.
18:59 August 12, 2011 by snowey
The mans a fascist, hates the EU (particularly the UK) and is very dangerous. He will manipulate the news to suit his political beliefs eg Fox Newsin the US which is a shrill extreme right wing news channel.He should be banned from Germany.
20:07 August 12, 2011 by Newyork1994
Murdoch go Home he is an AH
20:48 August 12, 2011 by BongoBern
Put a Murdoch Block on your cellphone and tablets, email, snail mail, PCs and Apples! And beware conservative agendas!
21:13 August 12, 2011 by ChrisRea
@ expatriarch #3

Your rant needs some corrections/clarifications. No company is forced to get listed on the stock exchange. Those that do, must however make their financial statements public (so to increase transparency). If more transparency is needed, that's another story.

I also dislike Mr. Murdoch. However, let's not behave like the readers of "The Sun".
03:23 August 13, 2011 by Der Grenadier aus Aachen
We really don't need this halfwit in Germany.
04:10 August 13, 2011 by hanskarl
So, we are saying that he and George Soros have something in common namely greed but each from different political perspectives, eh?
17:57 August 13, 2011 by catjones
I, like the other commenters, am sitting here in a pool of quivering sweat terrified that I will be forced to read the WSJ in german. I'm with the germans: keep out all foreign competitors....germany for germans.
18:39 August 13, 2011 by mkvgtired
Have any of you read the WSJ? It is a very good resource for investors. Before you claim I am some kind of elitist or something I am not. I am a law school student that paid for my undergraduate education, and am paying for my law school education. I invest to make extra money. It is not a "mouthpiece of the wealthy" or whatever other people call it. It is a vital resource for me to keep track of what is going on in markets. That being said if it is so "evil" dont read it.
21:42 August 14, 2011 by MichMash115
On behalf of my country, I would like to apologise to the world for spawning Rupert Murdoch. @mkvgtired, a law school student who invests money to pay for university sounds - no offence intended - kind of elitist to me. Murdoch´s evil empire is a mouthpiece for extreme capitalism and right-wing conservatives. @BongoBern, I´m with you, Murdoch blocks alround!
02:17 August 15, 2011 by username112973
Comment removed by The Local for breach of our terms.
04:03 August 15, 2011 by piatnek
Finally! A balance to The Economist and Der Spiegel.
12:03 August 15, 2011 by frankiep
^^^^ this

Completely agree. If we are going to be subjected to extreme left wing trash like The Economist and Der Spiegel, then make it fair and allow some room for extreme right wing trash like Murdoch. Or better yet, get rid of all of them.
Today's headlines
Man shot in tax office dispute
DPA

Man shot in tax office dispute

A tax office worker in the Schleswig-Holstein town of Rendsburg died in hospital after being shot on Monday morning. READ  

Merkel details Iraq arms shipment to MPs
Angela Merkel addressing the Bundestag on Monday as her ministers look on. Photo: DPA

Merkel details Iraq arms shipment to MPs

UPDATE: Chancellor Angela Merkel addressed the Bundestag on Monday to explain her government's decision to send weapons to Iraqi Kurds fighting terrorist group Isis. READ  

Olympic visions compete in Berlin and Hamburg
Berlin and Hamburg mayors Klaus Wowereit and Olaf Scholz on Monday. Photos: DPA

Olympic visions compete in Berlin and Hamburg

Germany's capital and its gateway to the North Sea each released details of their Olympic bids on Monday as the race for the 2024 or 2028 summer games nominations picks up momentum. READ  

Vacationer killed by Baltic Sea bacteria
Photo: DPA

Vacationer killed by Baltic Sea bacteria

Six people were infected with a bacteria from the Caribbean which has made itself at home in the popular German vacation destination. One of them is now in a coma. READ  

UN applauds Germany's help to refugees
DPA

UN applauds Germany's help to refugees

UNHCR Commissioner Antonio Guterres is lauding Germany's role in accommodating the influx of refugees in Europe, while pointing at the imbalance of effort within the EU. The federal government has pledged to do more. READ  

Energy-sucking vacuums no longer welcome
Photo: DPA

Energy-sucking vacuums no longer welcome

Starting on Monday, vacuum cleaners drawing more than 1600 watts can no longer be brought into Germany. The ban is part of a an EU-wide environmental protection measure. READ  

Coalition horsetrading starts after Saxony vote
CDU leader Stanislav Tillich with SPD Martig Dulig. Photo: DPA

Coalition horsetrading starts after Saxony vote

Chancellor Angela Merkel's Christian Democratic (CDU) party is in search of a new partner after the expulsion of its former allies the Free Democrats (FDP) from the Saxon state parliament. READ  

Presented by Phorms Education
Bilingual education from nursery to graduation
Photo: Phorms Education

Bilingual education from nursery to graduation

A network of German based schools is changing how students learn languages by introducing English and Deutsch from day one, with the method yielding impressive academic results. The Local finds out more about Phorms Education. READ  

JobTalk Germany
'German bosses need to praise more'
More of this? Photo: Shutterstock

'German bosses need to praise more'

What do German bosses need to do to get more out of their staff? Frankfurt-based business consultant Justin Bariso has this advice. READ  

Train drivers take their turn to strike
A banner announcing a previous rail strike in June is displayed in a station. Photo: DPA

Train drivers take their turn to strike

A train drivers' union has warned of a nationwide strike to take place on Monday evening as it seeks leverage in negotiations with Deutsche Bahn. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Sponsored Article
Bilingual education from nursery to graduation at Phorms
Photo: Shutterstock
Gallery
Ten of the oddest things found by German border control
Photo: Gerkan, Marg and Partners/Tegel Projekt GmbH/J. Mayer
Berlin
How will Berlin look in five years' time?
Photo: DPA
Culture
Sprechen Sie Deutsch? 10 reasons why you should
Photo: DPA
Gallery
The best of Berlin's mayor Klaus Wowereit in 14 pictures
Photo: DPA
Politics
Germany sends burgers and sausages to Kurds
Photo: Matthias Kock
National
Tribes, ties and a movie: A German's Afghan life
Photo: DPA
Gallery
10 things to do before summer in Germany is really over
Photo: DPA
Gallery
The mysteries of Berlin's abandoned theme park
Photo: Europeana.de 1914 - 1918
Gallery
A German soldier's life behind WWI lines
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,430
jobs available
Toytown Germany
Germany's English-speaking crowd