The American invasion continues

American celebrities are queuing up in their droves to nab a London pad, but could the next new US import be the most damaging to the capital? The Wall Street Journal is set to go on sale here for the first time from April 16th and could provide some unwanted competition to our very own Financial Times. The migration will see the publication available in London airports, investment bank headquarters and 250 central newsagents, though at a cost of one pound more than its homegrown rival.

Quoted in Investment Markets, analyst Paul Gooden was the master of understatement in believing that this was "clearly not helpful" to the FT. No shit Sherlock. With sales already down on many daily newspapers, this is far from good news to those that work at, read or generally take an interest in the FT. Or is it?

Maybe we're all being far too grumpy and pessimistic. UK readers might stay loyal, preferring the familiar and known. They might rally against the American focus in the Wall Street Journal. They might balk at the extra cost (only 100 little pence, but as Tesco persistently chirp "every little helps"). They might buy both, with the public's appetite for business news increasing under the competition as per the boom in celebrity-based publications. Does any of this sound convincing?

Over to you Glitterditchers. Do you read the FT? And if so, will you be buying The Wall Street Journal? Perhaps the idea of a new literary mistress feels naughty and illicit, you know you shouldn't but you can't resist. Or it could be interpreted as a welcome kick up the ass for the FT, and see the old girl improve and modernise. Leave a comment below and let us know what you'll be reading.

Flickr image from Trois Têtes (TT)'s photostream.

Written by Katie on 4 Apr 2008 12:39 PM. Permalink