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Wall Street Journal launches metro edition

Rupert Murdoch's paper has launched a new metro edition at a cost of $15m.

The Wall Street Journal is planning a 10-page daily coverage of New York politics and life, and has recruited 35 reporters, including several from the now-defunct New York Sun.

The move is being seen as an attempt by Murdoch's paper to bring down the popularity of the New York Times. Murdoch last month criticised the Times's journalism and accused it of overlooking its home city. Faced with debts of around $650m, the paper had decided to cut back its local coverage.

The Journal is also planning to cut advertising rates, which some critics have interpreted as Murdoch initiating an advertising price war with the competition.