ALM has so far opted not to develop its own Web site and instead contributes its content to Law.com, a legal portal. "It's tough to figure out what the business model should be, so we figured let somebody else do it," Pollock said.
That strategy will have to change, said an industry observer.
"Right now it's not a profit center," said Richard Levick, president of Levick Strategic Communications L.L.C., which provides marketing consulting to law firms. "But as [the Web] becomes even more of an information vehicle and a financial exchange, it'll present a long-term challenge for ALM."
He also stressed that ALM faces increased competition from more mainstream news organizations that are gradually boosting their coverage of the legal beat.