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The World Press: U.S. and Britain
I
nevitably, with globalization there is a race to create aglobal newspaper. As is now readily apparent, the Internetmakes it possible for any newspaper to be read everywhere.The
New York Times
or
Le Monde
can be read in Timbuktoo (if there is a phone modem there) or by the little lady in Dubuque.In speaking of a newspaper, we mean, first the physicalprint paper that one has in one’s hands. To that extent, thefirst global paper has been the
International Herald Tribune
which prints in twenty different plants and circulates in 187different countries. The
IHT,
based principally in Paris, hasits own staff, but also draws heavily from its co-owners, the
Washington Post
and the
New York Times
. (The
Herald Tribune
, an original sponsor, fell by thewayside many years ago.)The
IHT
is crisply written and merci-fully short (thirty to forty pages) againstthe elephantine bulk of its parent papers,but it does cover the major political andcultural news, and to a lesser extent thebusiness world. But the readership of the
IHT,
by and large, is primarily amongAmericans living abroad, or some of thebusiness elites in Europe who want aquick reprise of American events, and,in the summertime, American travelerswho want a comfortable reminder of their nationality. The
IHT
is now tryingto enlarge its scope, and (as we report inour article on the German press), the
Frankfurter Allgemeine Zeitung
, Germa-ny’s largest newspaper, now puts out an English-language sec-tion on Germany that is folded into the
IHT.
The
IHT
has anew editor, David Ignatius, a
Washington Post
columnist withbroad international experience, especially in the Middle East,but also a novelist and thriller writer, and so may enliven itsfeature reporting.The English
Guardian
puts out an English-language weeklywith translated pages from
Le Monde
and the
Washington Post
,but the pages from
Le Monde
are few and the pages from the
Washington Post
mostly its reviews, so the
Guardian Weekly
remains principally a U.K. paper with international pretensions.But it is the business press that is making the major effortsto become global, largely because business advertising isglobal, and that is where the riches lie. Among the businessweeklies, the strategies differ.
Business Week
, the most com-prehensive of the business publications, has gone online,allows its readers to download the magazine before the maga-zine comes to the mailbox, is updated every business day, andprovides detailed daily briefings on dozens of different sub- jects (with extensive dossiers the paper edition never fea-tures). It is, if one so wishes, a daily business magazine.The London
Economist
has a Web edition, free to paid sub-scribers, organized thematically so that readers can quicklyselect which stories interest them most, while providing de-tailed statistical analysis on more than sixty countries for readyreference. Its most ingenious innovation is a “mobile edition,”so that anyone with a handheld device, such as a Palm Pilot,can click into the magazine, wherever they are, and read pagesfrom the magazine. Increasingly, other publications are usingthe same system. One gets free software from a company calledAvantGo, specifies which publication one wants to subscribeto, connects their personal computer to the Web site, and thehandheld device is synchronized with the PC.But the main competition, the global duel, is between thetwo behemoths, the American
Wall Street Journal
and theEnglish
Financial Times
. The
WSJ
has by far the biggest cir-culation in the world, totalling 2,400,000in its regular print editions, as againstthe
FT’s
440,000. But most of the
WSJ
circulation is in the United States, whilethe
FT
is much stronger in Europe, letalone in the United Kingdom, where the
FT
sells about 190,000 copies daily.The
Wall Street Journal
has long hadworldwide regional editions, such as the
Asian Wall Street Journal
, or
Wall Street Journal Europe
. Its strategy seems to beto expand its
print
editions, but to tailorthem more to regional considerations. InFebruary, a redesigned
Wall Street Jour- nal Europe
, on which the company saysit will spend $60 million, appeared onthe newsstands. The old
WSJE
lookedexactly like the American edition. Thenew one introduces color photographs, and feature storiesspring out boldly across three columns in a more horizontal“European” layout. The
Wall Street Journal
has special edi-tions where bannered pages from the American edition aretranslated and appear in local languages in twenty-six coun-tries. The
Wall Street Journal Americas
, a set of special edi-tions, is translated into Spanish and Portuguese.The
Financial Times
, with its distinctive salmon-coloredpages, seems to have a different strategy. While the
FT
has anaffiliate in France, has acquired the
Economic Times
of India,and now puts out a complete
Financial Times Deutschland
, onsalmon-colored paper (both reported on in this issue), thepaper now, as it states, produces
two versions
of the
Financial Times
, one available on paper, one on the Web. With a newtechnology, it has become a full global business portal, and thesite has seven channels covering everything from businessnews to leisure. The
FT
now claims a roster of two million reg-istered users and more than one million pages delivered daily.What the
Financial Times
is saying is that it is not a newspa-per with a Web site attached, but a journalistic enterprise “thatoperates freely across media boundaries” and not committedto any one form of publication. Which strategy will win out isone of the fascinating questions in journalism today.
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—Daniel Bell