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Dow Jones & Company, Inc. (NYSE: DJ)'s Wall Street Journal (a.k.a., The Towel) occupies a unique spot in the media firmament. As I pointed out earlier in the year, it changed its format and now looks to me like a Holiday Inn bath towel. Towel Talk offers a perspective on its news and views.
I had hoped that we could just get it over already. But NOOOOOOOOOOOOOO!! Tonight The Towel [subscription required] reports that Brad Greenspan, the guy who sold MySpace to News Corp. (NYSE: NWS), has a plan to lift The Towel's share price above $100 in two years.
This is rich. And how does Greenspan propose to accomplish this little trick? He plans to turn The Towel's subscription Web site into a free, video-focused one. He also proposes creating a financial news channel to compete with General Electric Company's (NYSE: GE) CNBC and the planned Fox Business Channel.
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