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Murdoch to launch Wall Street Journal in German

The Local · 12 Aug 2011, 16:30

Published: 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)

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.
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