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Rupert Murdoch is more than simply a boy with his toys. His niche is communications.  Between daily newspapers, weekly newspapers, television stations, etc, Murdoch's portfolio looks more like a bibliography than a list of assets.  He's an extremely wealthy man who can buy whatever he wants to buy and, when what he wants becomes his, he can do whatever he wants to do with it.

Last week, Rupert Murdoch and his News Corporation added The Bronx Times and The Bronx Times Reporter to his communications holdings.  The weeklies join the likes of The TimesLedger newspaper groups in Queens and The Courier Life group in Brooklyn; they number in the dozens and all will complement The New York Post, also held by News Corp.

The addition of the Bronx papers brings the Post's weekly newspaper circulation in New York City to nearly 300,000.  Most of these subscriptions are free; the advertising pays the rent and, as part of the larger New York Post picture, these weeklies promise profit. 

The newly acquired newspapers, while likely to be lucrative, are the gems set around the center stone -- Dow Jones & Co. and The Wall Street Journal.  But Murdoch recently threw out a curious "what if" about this prize.

When Murdoch talked with Time Magazine last week, he voiced the idea that an online, rather than print, Wall Street Journal might be the most profitable way to go.  How?  Theoretically, or maybe not so theoretically, by cutting and offline overhead and spending in the vicinity of $100 million a year on the top business writers.

For the upcoming issue of Time, Murdoch said, "How long would it take for the advertising to come? It would be successful".

Yes, when what he wants becomes his, he can do whatever he wants to do with it.

Source:  Murdoch thinks of not printing the WSJ, The Sydney Morning Herald
Source:  Richard Perez-Pena, News Corp. Buys Two Weeklies, Expanding New York City Reach, free press (from the New York Times)