What makes it interesting is that Tactics interviewed two ex-journalists who have come over to the dark side for their point of view. Here are some nuggets:
From Gene Coulter, editorial director at Peppercom in New York and, until last year, news editor of the Money Investing section of the Journal:
“Everyone in the newsroom is dealing with it,” says Coulter, whose role with Peppercom includes strategic consulting on media relations. “Ask any of them if they would have preferred to stay independent and they would say yes. Some people will leave, but everyone isn’t heading for the doors. These journalists are the best in the world at analyzing business, and they understand they are at a point where the industry they are in has to change.”
Coulter figures Murdoch will move quickly to build the Journal brand globally using his existing News Corp. holdings in Europe and Asia and will make the brand a major part of his new digital cable channel to launch in the fall.
The newspaper will continue to pursue analytical journalism under its “How” and “Why” headlines and will continue to be a tough nut to crack for PR professionals.
“The paper’s stock in trade,” he says, “is the explainer. If you are a company with a quickie message you perceive to be news that you want to get out through the Journal, they are not really interested. They are more interested in 25 pieces of string you weave together and make a bigger ball of yarn.”
Coulter says his first piece of advice to clients looking for that kind of publicity is “don’t presume you’re ever going to get into the Journal.”
“Too many companies and clients think only about what their problems are,” he says, “and don’t consider what problems the reporters have. What are their editors asking them to do? What are the gaps in their reporting? Do they work on short- or longer-term stuff? How can you help them become more successful reporters? They are looking for you to explain what the world means. It’s strategic and takes time and patience. Be available for comment and background, but it will take 10 phone calls to get one message in a story.”
The Journal, adds Coulter, is interested in two kinds of scoops — news scoops and scoops of ideas.
“You need to learn how to think like a Journal reporter and editor and help them explain the world,” he says. “If you want that big home run in a publication like the Journal, you need to let reporters look behind the curtains a little bit. A lot of companies are afraid of showing their problems or perceived problems to journalists. I would counsel that if you talked openly about a problem your company had and then showed the solution, you have a positive story. Sometimes you have to show your warts in public.”
From Ed Cafasso, a former reporter and city editor at Murdoch’s Boston Herald and now managing director of Manning Selvage and Lee’s Boston office, agrees with Coulter.
However the editorial and news sides shake down, says Cafasso, The Wall Street Journal will still loom large in the working lives of PR professionals.
“The Journal is the No. 1 ‘hit’ that a PR professional in corporate and consumer practice can get,” he says. “It’s the publication you both love and fear, but if you can get your point across in The Wall Street Journal it’s not just a feather in your cap, it’s a headdress.”
It isn’t an easy relationship for a PR pro to establish and won’t get any easier, warns Cafasso.
“The Journal is known for doing its due diligence and for being rigorously skeptical,” he adds. “It is also very cognizant of trends and where industries are going. So you have to do your homework. To get a significant front section story in The Wall Street Journal will, on average, take you three months from your first contact with a reporter. There will be a lot of back and forth and a lot of questions. That won’t change. You have to be on top of your game at all times.”
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