MEDIA
12/22/2008 05:12 am ET | Updated May 25, 2011

Wall Street Journal Invading The New York Times ' Advertising Turf

The Wall Street Journal is invading the New York Times' advertising turf as competition intensifies in a souring U.S. economy.

Saks Inc., a Times advertiser since 1924, recently chose to promote a new Chanel boutique and made-to-measure men's suits in the Journal. Owner Rupert Murdoch's expansion of general news coverage and a new lifestyle magazine are starting to attract wealthy consumers and create ad space for retailers, said Milton Pedraza, chief executive officer of Luxury Institute LLC.

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