Tag Archives: Dow Jones & Co.

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Repak becoming Dow Jones director of global real estate

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Alan Anspaugh, editor of news operations for The Wall Street Journal and Dow Jones, sent out the following staff announcement on Tuesday afternoon:

Chaz Repak, our Deputy Editor, News Operations, is advancing to the corporate front lines, becoming Dow Jones’s Director of Global Real Estate.

That’s good news, as Chaz brings 21 years of knowledge of DJ’s people, practices, bureaus and offices to the role, which is sure to benefit every staffer. Unfortunately, he leaves a News role in which he has worked passionately, creatively and tirelessly for our News teams around the globe. Chaz played a dominant role in unifying and greatly improving the Journal, Newswires and Marketwatch staffing and budgeting areas.

His familiarity with our far-flung bureaus and facilities was never more needed. In moving into his new role in mid-February, Chaz will visit and help even more of them.

Please join me in wishing him good luck and Godspeed.

Robert-Thomson

With Fenwick gone, Thomson on the hot seat

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Leon Lazaroff of TheStreet.com writes about News Corp. CEO Robert Thomson‘s challenges in improving the operations at Dow Jones & Co., the parent of The Wall Street Journal, Marketwatch.com and Barron’s, with the departure of its CEO, Lex Fenwick.

Lazaroff writes, “Thomson must now decide whether to even retain DJX or concentrate on the company’s flagship property, The Wall Street Journal, similar to how New York Times Co. sold the Boston Globe and other properties to focus on its foremost news organization. The News Corp. chief executive, who is running a company for his first time, must also decide what to do with two high-profile but money-losing operations, the New York Post and Times of London.

“‘Thomson’s charge as the CEO is to figure out that transition,’ Doctor said in a phone interview on Wednesday. ‘Beyond the money involved, [News Corp Chairman Rupert] Murdoch bought the Journal in part to do damage to The Times, and they took their eye off the ball.’

“Come Feb. 6, discussion about the rocky reign of Fenwick will be eclipsed by the questions of what to do with DJX’s chief properties, Factiva, a variety of newsletters and specialties such as its Risk & Compliance service, and the Dow Jones Newswires, which has largely been integrated into the Journal.

“The problem for News Corp. is that it’s not Bloomberg or Thomson Reuters, two much larger companies that can afford to take chances on non-core ventures with the knowledge that its main is reasonably healthy. News Corp. remains the largest newspaper company in the world but it’s strength is centered on the Journal rather than Factiva and the products that comprise DJX.

“‘This is the first defining legacy of Robert Thomson,’ Doctor said. ‘As CEO he is cleaning up his own mess, and doing it fairly rapidly. Most people expected that Fenwick would have all of 2014 to prove out his model. Thomson is probably is going to make more decision more quickly.’”

Read more here.

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Fenwick out as Dow Jones CEO; company to review institutional business

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Lex Fenwick, who joined Dow Jones & Co. nearly two years ago after being a Bloomberg executive, has left the company abruptly.

William Lewis, currently the chief creative officer, has been named interim CEO and plans to review Dow Jones’ institutional strategy.

Fenwick has been hired to make Dow Jones, the parent of The Wall Street Journal, Marketwatch.com and Barron’s, more competitive with Bloomberg LP and Reuters.

“We thank Lex for his time and energy at the helm of Dow Jones, and in particular for his original vision of DJX as an innovative way to integrate content and deliver it to customers in a timely manner,” said Robert Thomson, Chief Executive of News Corp., in a statement.

“We’re reviewing the institutional strategy of Dow Jones with an eye towards changes that will deliver even more value to its customers.  As part of that, we’re planning improvements to DJX, “ added Thomson, who signaled that greater flexibility in its product offerings is likely in the short term.  Dow Jones’ DJX information service has been in beta since its launch last year.

“We will also be redoubling our efforts to develop The Wall Street Journal and its digital properties globally, which continue to serve the world’s most influential readers with the most authoritative news and analysis,” said Thomson.

Lewis joined News Corp. in 2010 as Group General Manager at News International (now News UK), and was appointed chief creative officer at News Corp. by Thomson last year to build new businesses, target acquisitions and drive digital initiatives for the company.

Lewis previously served as editor-in-chief of the Telegraph Media Group in the UK, where he helped create an industry-leading, digitally integrated newsroom and pioneered web-first publishing.

Lewis also served as business editor of The Sunday Times and global news editor of the Financial Times.  As a journalist, he covered mergers & acquisitions and fund management, among other topics.

WSJ-newsroom

WSJ completes real-time news desk aimed at “raising” digital game

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Wall Street Journal managing editor Gerard Baker sent out the following announcement on Tuesday:

Today marks a significant step forward  in the integration and digitization of the newsroom, as 60 of our colleagues arrive on the 6th floor of 1211 to complete the new Real-Time News Desk that sits at the center of our news operation in New York.

With the arrival of the real-time-focused editors, the hub becomes the heart of a faster-moving, digital-first news operation. The real-time desk will work to maintain a lively, fresh and newsy flow over Newswires, WSJ.com, mobile platforms and on social media. Our ambitious aim is a virtuous circle that edits better copy, posts it faster, with better visuals, and then maximizes its impact.

The editors on the real-time desk, veterans of DJN and the Journal, will work closely with subject desks, coverage chiefs and bureaux to quickly produce content and edit breaking and other time-sensitive news. The unified desk will serve a wide range of our digital needs – from headlines on breaking news, to sidebar explanatory pieces, to presentation of online features and beyond.

The creation of the desk puts in one place, within shouting distance – figuratively speaking, at least – virtually all the elements crucial to raising our digital game, from the homepage management team led by Jenn Hicks, to visual journalists from Seth Hamblin‘s group to the social media and new audience engagement teams led by Liz Heron and video creators from Chris Cramer’s group.

The revamped hub is a critical step in a process that began nearly a year ago and involved dozens of colleagues. High praise and thanks are due to Steve Wisnefski and Erin White, who led the process, as well as Chaz Repak, Dorene Lomanto and Aileen Sampson.

Within weeks, we expect to announce additional steps to improve copy flow and communication, and to help all of you improve our real-time output. At that time we will convene meetings with colleagues in New York to explain how the new operation works.

In many ways, the new real-time desk has already started functioning, publishing stories to both the wires and the web simultaneously, and working more closely with subject chiefs and other editors on coverage planning to ensure digital needs are met. You should expect to hear regularly from Steve, Erin and other editors on the desk, including Margaret deStreel, Tedra Meyer, Geoff Rogow and George Stahl, about real-time needs.

We have embarked on the path towards becoming a fully digitized news operation.  Today’s move makes concrete a large part of that ambitious objective. I am confident that our readers will quickly register a noticeable change in the quality and timeliness of our news.

WSJ

Dow Jones names head of digital design

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Himesh Patel has joined Dow Jones to lead the digital design of The Wall Street Journal, MarketWatch and Barron’s.

Patel was previously the creative director of London-based Telegraph Media Group, where he spearheaded the design of the Daily Telegraph newspaper and the award-winning Telegraph.co.uk website and apps.

“My goal at Dow Jones is to add zest and modernity to the consumer brands,” Patel said in a statement. “WSJ, MarketWatch and Barron’s should be consistent across platforms – web, mobile, newspaper. I want a subscriber to feel the same emotional response to our digital products that you get from an outstanding newspaper front page.

“I look forward to working closely with the editorial department on ways to make our journalism a joy to read or watch on digital platforms. We have some tough questions to answer: What is the role of a newspaper in the 21st century? What values do we need to retain and preserve from traditional newspaper cultures? And what needs to change? But we start with some critical advantages: WSJ is as essential today as it has been at any point in its 125-year history. The tsunami of second-rate content that washes across the Internet is creating an opportunity for high-quality media that stands out.”

“Readers’ experiences of our journalism on digital platforms needs to radically improve,” said Edward Roussel, head of consumer products at Dow Jones, in a statement. “This is where Himesh’s skills and leadership will be invaluable.”

David Bird

FBI joins search for missing WSJ reporter

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The FBI is assisting in the search for missing Wall Street Journal reporter David Bird, who was last seen leaving his northern New Jersey home more than a week ago.

Christina Corbin of FoxNews.com writes, “Barbara Woodruff of the FBI’s Newark office confirmed to FoxNews.com that the agency is helping the Long Hill Township Police Department locate Bird, who disappeared Jan. 11 after leaving his Morris County, N.J., home to go on a short walk.

“Bird, a 55-year-old avid walker and scout leader, left his cellphone and daily medication at home. Morris County was hit with heavy rain that day, after Bird set out for a walk, and portions of the surrounding Passaic River flooded area swamps. Bird, a father of two who had a liver transplant nearly 10 years ago, was recovering from a gastrointestinal virus when he left for the walk wearing a red rain jacket, according to authorities. He took medication twice a day for his liver transplant but was not carrying it when he left the house.

“Expansive searches of the surrounding land — including swamps and portions of the Passaic River — have yielded no sign of Bird. A law enforcement source told FoxNews.com that there is no evidence to indicate foul play but that ‘it hasn’t been ruled out.’”

Read more here.

David Bird

WSJ reporter Bird still missing

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Authorities are continuing to search for Wall Street Journal reporter David Bird, who has been missing since this weekend.

Jennifer Maloney of The Journal writes, “Authorities have said they don’t know what happened to David Bird, 55 years old, last seen leaving his home in the Millington section of Long Hill Township.

“Besides scores of volunteers, the search has employed helicopters, horses, ATVs and divers in the Passaic River.

“Mr. Bird, who covers energy markets for the Journal, has worked for Dow Jones for more than 20 years. He did a stint in London for Dow Jones in the 1980s and also has worked for the Associated Press and the Trenton Times, his wife said.

Gerard Baker, the editor in chief of Dow Jones and managing editor of the Journal, said in a statement: ‘Mr. Bird is a longtime member of the Dow Jones newsroom. Our thoughts are with his family and we are working with the Long Hill Township Police Department as they continue their search.’”

Read more here.

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Fenwick’s strategy at Dow Jones/Wall Street Journal

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Ken Doctor writes for Nieman Journalism Lab about the changing strategy at Dow Jones & Co., the parent of The Wall Street Journal, under CEO Lex Fenwick.

Doctor writes, “Public attention on Fenwick has focused on two things. One is his management style. Fenwick is universally described as a man who likes to be the decider, a top-down exec in an age where at least the hint of collaboration is nearly universally espoused. Secondly, the information world has been astounded at his remaking of the B2B side of Dow Jones.

“Launched after lots of internal integration at year’s end, DJX has become Dow Jones’ Bloomberg. It’s one product, largely at one price, bringing together its Factiva enterprise information services, the Dow Jones Newswires, and much more. The early reaction to the higher pricing (with some customers being asked to pay three times or more what they previously did) and to the lack of separate product choice has been noteworthy. Cancellations have been reported, but it’s too early to know the overall business impact of the major change.

“What’s important for Journal watchers to know is that the same single-product, single-price strategy now being tested in the B2B marketplace has been applied to the Journal.

“As the application became clear, the exodus began. The Journal has seen dozens of managers leave. Alumni talk about the exodus of summer 2012 and summer 2013. Within six months of Fenwick’s arrival in February 2012, the departures had begun, concentrated early on in and around the Factiva business. Some were forced; many were voluntary. The summer timing wasn’t coincidental: News Corp’s fiscal year ends June 30, and annual bonuses are paid in August. Consequently, it is the last 18 months of the Journal that have seen the greatest change.”

Read more here.

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Why the Dow Jones lawsuit won’t work

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Matthew Ingram of GigaOm writes that the Dow Jones & Co. lawsuit filed Thursday against Ransquawk for allegedly stealing Wall Street Journal content isn’t likely to be successful.

Ingram writes, “Like the brokerage firms, Dow Jones is trying to piggyback on the original ‘hot news’ ruling by making its claim in New York state, which adopted aspects of the doctrine as part of state law — despite the criticisms made by legal scholars that enshrining a form of property right in factual statements contravenes federal copyright law. In its claim, Dow Jones goes to some lengths to argue that Ransquawk does business in New York and/or is hurting the wire service’s business prospects in that state.

“It’s true that seconds can matter when it comes to financial news in particular (Reuters charges certain clients thousands of dollars a month to get labor statistics just two seconds before they are released to the rest of its business customers). But it’s also true that sources of information are everywhere — and if anything, they are multiplying faster than Dow Jones or the court can count them.

“For example, part of the Dow Jones claim states that Ransquawk reproduced within seconds the wire service’s ‘scoop’ that Twitter had filed securities documents in preparation for an initial public offering or IPO. But that ignores the fact that literally hundreds of Twitter users — both wire services and individuals — did exactly the same thing within seconds of the filing.

“The reality, as I’ve argued before, is that Twitter is the news-wire for a growing number of people now, and the life-span of a so-called news ‘scoop’ continues to dwindle rapidly. Dow Jones may not want to believe it, but there are plenty of legal ways that Ransquawk — or anyone else, for that matter — can find out market-moving information within seconds or minutes of Dow Jones moving it on the wire. Suing every provider like Ransquawk is like closing the barn door after the horse has long since moved on to greener pastures.”

Read more here.

Roger Ailes

Roger Ailes and The Wall Street Journal

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Gabriel Sherman‘s biography of Fox News head Roger Ailes — who also oversees Fox Business Network — called “The Loudest Voice in the Room” will be released next week, and New York magazine runs an excerpt that includes details of what Ailes thought of The Wall Street Journal, also owned by News Corp.

Sherman writes:

The ratings failure of the Fox Business Network, which Murdoch had tapped Ailes to launch 2007, was all the more glaring given that Murdoch had acquired The Wall Street Journal around the same time. But Ailes spoke of the Journal as a threat. The paper had no synergy with Fox. Executives noticed that Ailes resented Murdoch’s lavish support of the Journal’s parent company, Dow Jones, and his close friendship with Robert Thomson, the former editor of The Times of London whom Murdoch tapped to be publisher of the Journal. As Les Hinton, then president of Dow Jones, accompanied Ailes on a tour of the Journal’s gleaming new newsroom a few floors above Fox News, Ailes grumbled, “So, you’re showing me what I paid for.”

In the fall of 2012, Ailes held a meeting with Fox Business executives to discuss whether Fox should sign a content arrangement with Dow Jones. That year, Dow Jones was exiting a long-term partnership with CNBC and was free to sign up with Fox. “Why would I pay them anything?” Ailes said, referring to the Journal. Fox anchor Neil Cavuto stoked Ailes’s fears of a corporate rivalry. “The Wall Street Journal is a Trojan horse. They want the business channel,” he told Ailes.

Then Ailes largely banned Journal reporters from his air. It happened after Ailes learned that Journal Deputy Managing Editor Alan Murray, who was steering the Journal’s expansion into video production, had made a snide comment about Fox. “Alan made the mistake of telling folks how he could make FBN better,” the executive said. A few months later, a junior Fox Business staffer mistakenly disclosed the ban to a Journal employee.

“We had to deny that there ever was a ban. It was so silly,” a Fox producer said.

Read more here.