Murdoch says he expects to scrap subscription fees for

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Adelaide, Australia—News Corp. Chairman-CEO Rupert Murdoch told shareholders Tuesday that he expects to scrap subscription fees for The Wall Street Journal Online, according to the Associated Press.

News Corp. has agreed to acquire Dow Jones & Co., publisher of The Wall Street Journal, for $5 billion in a deal expected to close in December.

"We are studying it and we expect to make that free, and instead of having one million, having at least 10 million-15 million in every corner of the earth," Murdoch said, referring to the Journal's online readership. He added that a free model, with increased readership, will attract "large numbers" of big-spending advertisers.

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