Murdoch attempts to lure advertisers away from The New York Times

Rupert Murdoch is offering discounted ad rates for space in The Wall Street Journal‘s new metro edition in a bid to attract advertisers away from The New York Times.

Murdoch is giving away full-page ad space for as little as $19,000, which would normally cost around $80,000 to $90,000 in the new 12-page section, according to reports.

As part of the deal, News Corporation is also offering full-page ads in its tabloid title The New York Post.

The new metro section, which is being launched today, includes local news from the five New York boroughs as well as arts and sports coverage.  It is expected to have a circulation of around 240,000.

Scott Heekin-Canedy, president of the New York Times Company, admitted that the paper is feeling the pressure of the New York ad market, but said the title would not get into a advertising price war with the WSJ.

However, it is thought that The New York Times plans to launch regional editions across the US in response to the WSJ’s new edition.  The new local titles will build on The New York Times’ existing San Francisco and Chicago editions.