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how to change blog to other fold name, say news?
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There's not a quick way of doing that unfortunately, but you'll need to change references to /blog in your root .htaccess file and reboot_blog.php file.
You'll obviously need to change the WP config settings and need to change the posts and images absolute paths in the WP database tables - example SQL patch code is provided in the WP blog addon install.txt file.
There's more general info on 'moving' a WP site
here.