You know it’s a big deal in business journalism when Newsweek decides to cover the boardroom shakeup at Dow Jones, the parent of The Wall Street Journal.
In the Jan. 16 issue, which is available online, writer Jonathan Darman has a couple of interesting points to make about the departure of CEO Peter Kann and his wife Karen Elliott House, the Journal’s publisher, as well as the new CEO, Richard Zannino.
They include:
1. “Longtime Journal observers saw this history in the boardroom shift. ‘The way this was all handled seems to be a not-so-polite way of asking Peter and Karen to quickly head for the door,’ says a former Dow Jones executive who asked not to be identified so as not to offend Kann and House.”
2. “When reminded that a senior Dow Jones executive was once quoted in a New Yorker article saying that Zannino ‘doesn’t understand, in his genetic material, what journalism is about,’ he is dismissive: “Their evidence for that was that I took the blame for not reopening the cafeteria in this building when we moved back after September 11.” His first reaction when the Journal gets scooped by The New York Times? ‘I’m p—-ed.'”
3. Zannino wants to ‘rethink the content, the layout, the design, the presentation of our news.’ That doesn’t mean rushing into online businesses. His goal is a company whose subscribers ‘read the newspaper on the way into work’ and ‘stay updated all day through the Online Journal.’
OLD Media Moves
More on Dow Jones shakeup
January 9, 2006
You know it’s a big deal in business journalism when Newsweek decides to cover the boardroom shakeup at Dow Jones, the parent of The Wall Street Journal.
In the Jan. 16 issue, which is available online, writer Jonathan Darman has a couple of interesting points to make about the departure of CEO Peter Kann and his wife Karen Elliott House, the Journal’s publisher, as well as the new CEO, Richard Zannino.
They include:
1. “Longtime Journal observers saw this history in the boardroom shift. ‘The way this was all handled seems to be a not-so-polite way of asking Peter and Karen to quickly head for the door,’ says a former Dow Jones executive who asked not to be identified so as not to offend Kann and House.”
2. “When reminded that a senior Dow Jones executive was once quoted in a New Yorker article saying that Zannino ‘doesn’t understand, in his genetic material, what journalism is about,’ he is dismissive: “Their evidence for that was that I took the blame for not reopening the cafeteria in this building when we moved back after September 11.” His first reaction when the Journal gets scooped by The New York Times? ‘I’m p—-ed.'”
3. Zannino wants to ‘rethink the content, the layout, the design, the presentation of our news.’ That doesn’t mean rushing into online businesses. His goal is a company whose subscribers ‘read the newspaper on the way into work’ and ‘stay updated all day through the Online Journal.’
Read the entire article here.
Media News
FT/Schroders seek Business Book of the Year entries
April 22, 2024
Media News
Behme departs Crain’s Chicago after nearly 20 years
April 22, 2024
Media News
Fierce Biotech’s Masson now associate editor
April 22, 2024
Media News
Hollywood Reporter hires Ford as its UK reporter
April 22, 2024
Highlighted News
Bankadelic podcast: The state of banking 2024 in two parts
April 22, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.