SmartMoney, the personal finance magazine published by Dow Jones, disappeared from newsstands forever after its September issue. Now, only about six months later, the company has announced… another personal finance magazine! Adweek reports that WSJ. Money is being planned as a spinoff of WSJ., and will debut in March as an insert in the weekend edition of the paper.
Why would Dow Jones create a new magazine after it folded the perfectly good one it already had? Because WSJ. Money will be a finance glossy for the rich. By targeting those with bank accounts so large it makes your stomach turn, Dow Jones is hoping that fancy advertisers — and their fancy ad dollars — follow.
“It’s for people who are voyeuristically interested in the high end and are at the high end,” Mike Miller, senior deputy managing editor at the Journal and the editor overseeing Money, told Adweek.