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The time Rupert Murdoch has been deliciously waiting for has arrived, as his Wall Street Journal is about to be released in its new format to combat the fading New York Times (NYSE:NYT).

On Monday morning readers of The Wall Street Journal will be treated to a new product, as it will be extended beyond its usual business and finance fare, to an increased coverage of politics, culture, global news and sports. This is the beginning of the war Murdoch promised when in the middle of negotiating to acquire the paper.

As Newsweek said, "The new Journal is as respectable, restrained and readable as it has ever been—but with a broader world view designed to appeal to audiences well beyond its traditional, pin-striped base."

Considering the timing of the new format, it is just about perfect from Murdoch's and News Corp.'s (NYSE:NWS-A) point of view, as the Times has been floundering for some time, and is taking a pummeling in the loss of advertising dollars, and is looking at cutting another 100 workers from the force. Advertising revenue for the last quarter dropped by a extraordinary 11 percent.

The outlook is that the Times will have to continue doing this for possibly years into the future.

Smelling blood, Murdoch is agressively changing things and pouring money into the Journal; looking for ways to grow its customer base, while maintaining its core reader.

The release of the expanded content coverage on Monday is the first step and experiment in seeing if that will be a successful strategy for Murdoch, and whether he will be able to make significant inroads into making The Wall Street Journal the "nations newspaper."

The major changes to be seen on Monday will be the front page and A section will cover news in general, while Marketplace will be the new home of everything covering business in America. The Money and Investing section will continue covering Wall Street and investing.

Another change will be in the op-ed portion of the newspaper, where it'll increase from the usual two pages to three.

A section on culture will be introduced sometime in the fall months in the weekend edition of the Journal.