Broadsheet battle

Londoners now have a choice of newspapers providing gloomy news about the credit crunch.

News Corp.'s recently acquired Dow Jones publishing business will start printing The Wall Street Journal in London this week, raising the competitive threat to the Financial Times, the parish magazine of London's City workers.

However, the WSJ's high price and US-centric editorial focus will make it tough for Rupert Murdoch to beat the pink pages in their own backyard. The WSJ will have a small initial print run of around 3,500 copies, and at 250 pence, the broadsheet is a whole pound dearer than the FT. The Journal could also cannibalise its own readership: London will continue to receive the version of the WSJ it has been seeing for 25 years -- The Wall Street Journal Europe.

Nevertheless, both companies are in good shape in terms of print and online circulation. The www.wsj.com site is ranked as the largest paid subscriptions news service on the Web, and although circulation figures for many UK newspapers are falling as free papers or Web-based services make gains, the FT has managed to improve circulation amid cover price rises. In March, the FT's circulation was up 2% to nearly 440,000 for the July-December period with subscriptions up 19% and online subscribers to the FT up 13%.