"The eschatological angst that characterizes much of the newspaper industry does not exist at Dow Jones," Wall Street Journal Managing Editor Robert Thomson said, as quoted by Portfolio's Jeff Bercovici, who was in attendance. "We don't have the fetid air of failure." He also made reference to a certain rival newspaper (read: The New York Times) whose editors consider its fashion-magazine franchise as a "house of ill repute."
He made it clear that the News Corp. execs now in charge of the Journal, happy capitalists that they are, have no such qualms. (But in reality, neither does the business side of The New York Times, which has happily trumpeted its ad-page success with its T franchise nearly every quarter).
And now The New York Observer is jumping into the glossy game with a twice-yearly title. WWD reports that Observer Style is set to appear in November with an 80-page edition that will have room for 15 full-page ads. We eagerly anticipate the jabs Jared Kushner is preparing to hurl at Thomson.
WSJ is being billed as "a celebration of the lifestyle of its readers and will serve as an inside track on how to live life to the fullest." The first issue is packed with 51 advertisers hoping to sell their wares to the Journal's readers, including names more commonly found in Vogue, such as Hermès, Dolce & Gabbana and Versace.
Edited by Tina Gaudoin, WSJ will have a circulation of 800,000 in the U.S., where it will be distributed to Journal subscribers in 17 of the largest geographic markets as part of their Saturday Weekend Edition, as well as on newsstands. The magazine will have a circulation of 160,000 outside the U.S., where it will be distributed in copies of The Wall Street Journal Asia and The Wall Street Journal Europe. Content from the glossy became available free online at wsj.com Sept. 6.