More on Murdoch/TheStreet.com
This showed up in my email inbox today:
Some TheStreet.com (TSCM, Strong Buy rated) investors have expressed concern about the possibility that Rupert Murdoch’s News Corp (NWS, not rated) could decided to make the WSJ.com site completely free-of-charge (today it’s primarily a paid subscription service) ever since News Corp acquired the WSJ.com’s parent Dow Jones last year. However, at the World Economic Forum in Davos, Switzerland, yesterday Murdoch said “The really special things [at WSJ.com] will still be a subscription service, and, sorry to tell you, probably more expensive.” From a competitive perspective, this should be viewed as a positive datapoint for TSCM shareholders. We note that the WSJ.com has just over 5MM monthly unique visitors to its site vs over 6MM at TheStreet.com.
Principal, Equity Research
Needham & Company LLC