What will Dow Jones do with Ottaway Newspapers when it sells the Wall Street Journal?
The rumors were all over the network business shows on cable last night about the coming sale of the Wall Street Journal to either G.E., Warren Buffet, Washington Post or NY Times. Even the Ottaway newspaper in New Bedford reported on it two days ago here. The sale would be bad news for our local daily which is one of the best-performing mastheads in the D-J conglomerate.
Dow Jones has been selling properties which earned under 30% profit for years, and WSJ's time has apparently come. If NY Times is the successful buyer it would help The Boston Globe (which they own along with the Worcester Telegram & Gazette) penetrate this market which is their weakest circulation area.