The Wall Street Journal is planning to woo advertisers with a weekend edition to be launched September next year.
The venerable organ of the US business community will appear on Saturdays "where the power of the Journal meets the pleasure of the weekend", according to publisher Karen Elliott House.
Owner Dow Jones, which is struggling to fully emerge from the advertising recession of recent years, wants to increase revenues by diversifying from the core of financial services, corporate image and technology ads to more consumer-oriented offerings through Pursuits, a lifestyle section in the new weekend edition.
Up to 150 extra editorial, advertising and production staff will be hired, say Dow Jones executives and the whole enterprise will cost an estimated $6m (€4.9m, £3.3m).
The weekender, which will be published only in the US for the immediate future, will cost $1.50 on the newsstands but will be delivered to weekday subscribers' homes at no extra charge.
Richard F Zannino, Dow Jones' evp/ceo says the launch is expected to be 'modestly dilutive' of 2005 earnings but adds: "We expect the Journal to post impressive earnings gains in 2005 ... due to expected growth in core Journal advertising revenues, and cost containment made possible by initiatives already implemented in 2004."
Data sourced from: The Wall Street Journal Online; additional content by WARC staff