Murdoch Backs WSJ Expansion

The Wall Street Journal is beefing up and positioning itself to take over the space left open by The New York Times after the paper of record folded its metro section last year. Rupert Murdoch, chairman of News Corp., has set a $15 million budget for the planned New York edition of The Wall Street Journal. Scheduled for launch in April, the section will span local politics, culture, news, and sports. Former New York Sun editor John Seeley is spearheading the initiative. As the Times struggles with budget woes, it has shifted its focus to national coverage, leaving it vulnerable to competition from the Journal, and consultants say the time to strike is right.