Wall Street Journal Cuts New Subscription Prices By 80%, Makes Sure NY Times Readers Know About It

wsj_4.1.10.jpg

Update: Reuters has issued a retraction regarding their original story on a WSJ subscription cut:

Please be advised that the New York story reporting the Wall Street Journal is cutting new subscription prices for a new New York City edition is wrong. The paper says its discounted introductory subscription offers are not new. The following story has been withdrawn.

STORY NUMBER: N31222537
STORY DATE: 01/04/2010
STORY TIME: 1833 GMT

There will be no substitute story.

So there you have it. The Wall Street Journal: Everyday low prices.

The Wall Street Journal is expected to cut the cost of new subscriptions by 80% as it prepares for the debut of its new, local New York section. Because now’s the time when newspapers stop being polite and start getting real. The price cut is, of course, meant to render the new section more enticing to readers who might otherwise have picked up a copy of the New York Times at their local Starbucks. The Journal — owned by Rupert Murdoch’s News Corp. — even went so far as to mail Times subscribers to inform them that they could be receiving a year’s subscription to the Wall Street Journal for the low, low price of $10… $30 less than the Times.

The move might also prove enticing for news consumers in general, especially given the ongoing decline in newspaper circulation as more news is made available for free online.

Speaking of online news, the Wall Street Journal is also offering new readers who subscribe online a low rate of $2.29 per week. That’s strictly for the print version, by the way, without access to the Journal‘s pay wall-protected Web site.

It’ll be interesting to see how well the price cuts will pan out once the new section launches and whether long-time Journal readers will take to a local section on all things New York, including NY sports and gossip. That is, if they aren’t already utterly put off by the Wall Street Journal‘s current behavior.