With the ink still drying on his takeover of The Wall Street Journal, Rupert Murdoch is already setting his sights on the New York Times—the current newspaper of choice for the Northeastern elite. The Australian tycoon is planning to challenge the Times by expanding the Journal's "coverage of national, international and nonbusiness news," the LA Times reports.
The Journal will increase by four pages, with more editorial coverage and more staff in Europe and Asia, and could possibly slash advertising rates and the cover price despite Murdoch's refusal to ignite a price war, one insider reports. "Rupert thinks the Times is vulnerable," an exec said. "He's going to go after them."