Wall Street Journal site looks to social networking

ASIA-PACIFIC - The Wall Street Journal has launched a newly redesigned website that includes a social-networking component both on its flagship site in New York and its Wall Street Journal Asia edition.

The site’s new Journal Community takes inspiration from social networks such as Facebook and LinkedIn and is the WSJ.com's first redesign since 2002. It allows subscribers to create profiles that list their job details, photos and creates a forum for them to comment on news topics and Wall Street Journal stories.

According to a spokeswoman from The Wall Street Journal Asia, the move is in line with the newspaper’s goals to engage readers and boost subscription revenue.

“Both WSJ Europe and WSJ Asia will have upgraded sections with this redesign, and we are investing in creating a more regionally relevant experience on those areas of the site as well as looking at local markets thereafter,” she said.

WSJ.com is one of the few news sites to adhere to a strict payment model, which includes giving paying subscribers access to its news and analysis pieces, archives and feeds.

The Wall Street Journal is owned by Rupert Murdoch’s News Corporation, which also manages leading social network MySpace.com.