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Gordon Crovitz, the former publisher of The Wall Street Journal, spoke about News Corp.'s acquisition of Dow Jones, newspapers and blogs at the 2008 Leadership in Media forum.
According to Crovitz, News Corp.'s stated ambition includes broadening the scope of the Journal's coverage, which is in keeping with the WSJ's longtime evolution. "Over the years the Journal has gone from being a source of narrow financial information to a broad financial news provider," Crovitz said. "Having a lot of content for a lot of different audiences is going to be a good model going forward." Commenting on the importance of a brand, Crovitz said that much of the reason that there are over a million people paying to access the Journal's Web site is because it is The Wall Street Journal. "Almost every media company is trying to focus on: 'What does our brand mean to users and what we deliver?' " Crovitz said. "Even the older new-media companies, like Yahoo!, are already reviewing their business and rethinking their value proposition in the digital world." Crovitz also said that he is a fan of journalism blogs. "There are two wonderful things about the blog format, which I view as an art form of news journalism," Crovitz said. "I mean the ones that are focused on a specific audience related to financial journalism." "They're using the new media as a forum to create new communities, creating a community of interest between users that they didn't even know existed," he continued. The other thing is that blogs can extend that brand to new communities through peers addressing peers. "Lawyers or judges aren't going to post comments on MySpace, but they will post to their peers on a blog such as the WSJ's law blog." - George White See earlier posts from 2008 Leadership in Media Forum Categories Deal Video
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