Tag Archives: Dow Jones & Co.

fake news release

Fake news release makes it onto Dow Jones

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A news release saying Samsung was purchasing a Swedish tech company for $650 million was published on Dow Jones before it was discovered to be false.

Sven Grundberg of The Wall Street Journal writes, “Dow Jones & Co.’s newswires republished the release from the Cision news release service. The release was removed from the Dow Jones service and a correction was published. Dow Jones, owned by News Corp., is the publisher of The Wall Street Journal.

“It is the latest in a string of bogus releases. In April, a fake news release was distributed that said Chinese search giant Baidu Inc. made an offer to acquire social-gaming company Zynga Inc. And in November last year, a fake news release posted on PRWeb.com said that Google Inc. had acquired wireless provider IOCA Inc. for $400 million. Both companies quickly debunked the news.

“In an interview Friday afternoon, Cision CEO Magnus Thell said ‘we’ve got a control system, but in this case it was breached.’ Cision’s shares closed down 5.4% on Friday.”

Read more here.

dow-jones-logo

Dow Jones chief revenue officer Rooney leaving the company

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The following statements from Dow Jones CEO Lex Fenwick and Dow Jones CEO Robert Thomson were released Monday by Dow Jones & Co., the parent of The Wall Street Journal:

Message From Lex Fenwick

It is with warm wishes that I announce today Michael Rooney will be leaving Dow Jones to take a well-earned sabbatical. After a successful 35-year career in advertising sales, the last six with The Wall Street Journal, Michael will fulfill  his dream of traveling around the world with his wife. During his tenure with Dow Jones, Michael has been one of the loudest cheerleaders for the Journal franchise. He built a strong sales team and laid the groundwork for our current and future advertising successes. Through it all, he has never failed to bring a sense of fun to everything he does. We are all indebted to his dedication and leadership. Please join me in wishing him all the very best — here’s to many passport stamps and new adventures.

I am also pleased to share the news that Trevor Fellows will be joining Dow Jones as the new Head of Global Advertising Sales. Trevor, who joins us from Bloomberg, has had a long and successful career in global ad sales. He has served as Bloomberg’s Head of Global Media Sales in the U.S. and the U.K. and was also Head of Distribution and Ad Sales for EMEA and Asia. He brings an impressive  breadth of experience and leadership, please join me in welcoming him to Dow Jones.

Michael remains with us for a short while to ensure a smooth transition with Trevor, who begins work in a few weeks’ time. Trevor will report directly to me.

Quote From Robert Thomson

“Michael has built a team that transformed the ad fortunes of the company by hard-charging into the digital domain and fashioning a prestige consumer business that became a cornerstone of the Journal’s contemporary success.”

-Robert Thomson

WSJ-newsroom

How the WSJ and Dow Jones plan to build a digital-first newsroom

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Almar Latour, executive editor at The Wall Street Journal, Dow Jones Newswires and Marketwatch.com, leads the project of building a global, digital-first newsroom.

Here are excerpts from a Q&A he did with the company’s public relations staff about the changes:

WHY DID WE HAVE TWO NEWSROOMS TO BEGIN WITH?

We had two separate units, one focusing on professional real-time readers, the other a daily newspaper. Each had its own revenue stream, its own news agenda, its own team, and even its own headquarters and bureaus around the world.  The two organizations did not coordinate very well, if at all. Reporters from each news teams would cover the same news events, talk to the same sources, compete for the same news.

HOW AND WHY DID DIGITAL TRANSFORMATION BECOME A PRIORITY?

In the digital age, traditional borders between our businesses disappeared. All stories are digital, some are print. We have to practice “total journalism”: Tell our stories, break news, offer our unique analysis in the most suitable way for any platform, at the most suitable time for all our global users.

WHAT SPECIFIC MILESTONES HAVE BEEN ACHIEVED THIS PAST YEAR?

We have a single global news management team for all our platforms under Gerry Baker, our editor-in-chief. We’ve also refocused our coverage on core areas, routing more talent and resources to areas such as Markets, Central Banks, Economy, Technology, Politics and Policy.  We are recruiting the best journalists in their field.

WHAT ARE YOUR MAIN GOALS FOR THE YEAR AHEAD?

Create a  unique, global, 24/7 real-time news organization that serves both consumers and professionals anytime, anywhere. To do that we have to strengthen our global network of expert reporters and editors.

Read more here.

Robert-Thomson

Ex-WSJ ME Thomson received $2.6 million in pay

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Robert Thomson, the CEO of News Corp. and the former top editor of The Wall Street Journal until the end of 2012, received $2.6 million in compensation for the 2013 fiscal year, which ended June 30.

Thomson received a $500,000 bonus for his duties at The Journal and as the editor in chief of Dow Jones as part of his compensation, according to the 10-K filed Friday afternoon by the company. The company also owns Marketwatch.com and Barron’s in addition to The Journal and Dow Jones Newswires.

Thomson’s salary was $992,308 for the fiscal year, although his annual base salary is $2 million. The company was created earlier this year when it split its television and non-newspaper operations into a separate company called 21st Century Fox.

His total bonus for the fiscal year was $1 million. Thomson also received $616,476 in pension benefits and $52,679 in other compensation, which included the company paying for his life insurance policy.

Beginning with the current fiscal year, Thomson is eligible to receive stock awards of at least $4 million annually.

Bedi Singh, the company’s chief financial officer, received $1.97 million in compensation for the year.

Read the filing here.

 

All Things Digital

Mossberg and Swisher: We’re hiring more journalists in 2014

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Walt Mossberg and Kara Swisher, who have been running the All Things Digital tech news site for Dow Jones & Co., write about their plans for their new site, which will launch Jan. 1, 2014.

Mossberg and Swisher write, “Then, starting Jan. 1, 2014, we will still be Web-siting and conference-producing and much more, albeit under a new corporate structure with new partners and investors. While we can’t give any details yet — and there are details — you can assume that this new independent business will be laser-focused on continuing and extending Web journalism and conference journalism with the highest standards. Plus, we will finally be able to have added resources, so we can grow in new and exciting ways, including hiring more journalists and doing much more video.

“In addition, not only will Walt continue his reviews on the new site, but we’ll be adding more reviewers to our current superb group, to praise or condemn even more digital products.

“As for Kara, she will be continuing her famously fierce pursuit of the news, with an ever-growing team of major reporting talents like the ones we are so privileged to work with now.

“And those red chairs — the iconic seats in which every major tech and media leader has been grilled at our conferences for 11 years? We’re keeping them, because we will be holding our usual style of big, news-making conference in 2014, and many others, as well.”

Read more here.

AllThingsD

The revenue behind All Things D

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Edmund Lee of Bloomberg News takes a look at the revenue generated by All Things Digital, the tech news site whose leaders Walt Mossberg and Kara Swisher are leaving Dow Jones & Co. and striking out on their own.

Lee writes, “Mossberg and Swisher have approached other media companies, including the New York Times, about a joint venture to create a similar conference under a new brand, according to three executives familiar with the matter who asked not to be identified because they weren’t authorized to speak publicly.

“Tickets to AllThingsD’s most recent conference, at the end of May, cost $5,500 each, for a total of $2.75 million. The conference also takes sponsors — such as Oracle Corp. and Sony Corp. — which pay as much as $400,000 each, adding up to more revenue than ticket sales generate, according to two people with direct knowledge of the business.

“The website only brings in about $3 million to $4 million in annual ad revenue, most of it tied to deals that also run across Dow Jones’s other sites, such as wsj.com, one of the people said. As a stand-alone entity, AllThingsD.com would only generate about $1 million a year, the person said.

“The company declined to comment on what will happen to the AllThingsD brand. AllThingsD recently added two new events — one focused on media and another on the mobile industry — in an effort to expand the franchise.”

Read more here.

All Things D web

All Things D to split from WSJ; Mossberg to stop writing for paper

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Dan Primack of Fortune is reporting that the All Things Digital tech news site that is part of Dow Jones is splitting from the company, meaning that famous tech writer Walt Mossberg will no longer write for The Wall Street Journal.

Primack writes, “Those talks continued throughout the past several weeks, but the two sides ultimately decided to go their separate ways. Not only does that mean AllThingsD will no longer share content and certain advertising functions with Dow Jones, but also that Mossberg will leave his Wall Street Journal column after 20 years (he has been with the paper for a total of four decades).

“So what’s next? Fortune hears that AllThingsD remains in talks with two prospective investors, one of which is Comcast subsidiary NBCUniversal. Other names that have been floated include Bloomberg, Condé Nast, Cox Enterprises and The Washington Post Company.

“So far, however, no final deal has been signed. It is unclear how ATD would finance itself without a large media partner.

“Calls to a Dow Jones spokeswoman have not been returned. Kara Swisher declined comment via email.”

Read more here. An official statement is expected later Thursday.

wall-street-journal-logo_20110715210549

WSJ beefs up its Europe finance team

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Duncan Mavin, the Europe finance editor for The Wall Street Journal and Dow Jones Newswires, sent out the following staff announcement on Wednesday:

We are excited to announce several key appointments to the Journal/Newswires Banking and Insurance team in London. The appointments reflect ongoing efforts to add considerable strength and depth to our existing top-notch coverage of finance and markets in Europe.

David Enrich becomes Europe Banking and Insurance Editor for the Journal and Newswires. David has been with Dow Jones since 2003 as a reporter and editor in New York and London. His coverage of financial services on both sides of the Atlantic has led to numerous accolades, including, in 2012, an Overseas Press Club award for coverage of the European financial crisis and a George Polk Award for coverage of insider trading. He was also part of teams of Journal reporters who were finalists for Pulitzer Prizes in 2009 and 2011. David was most recently the Journal’s Banking Editor for Europe. He is a graduate of Claremont McKenna College, Calif., a native of Lexington, Mass., and a fan of Tottenham Hotspur Football Club.

Joe Ortiz is appointed Deputy News Editor, Banking and Insurance, Europe. Joe joined Newswires four years ago as a columnist for Dow Jones Investment Banker–which later became Dow Jones Banking Intelligence–writing most frequently about Europe’s financial services industry. Prior to that, he spent 28 years with Reuters, most recently as a Madrid-based correspondent covering financials, energy and general news. He was also Reuters’s chief sub editor in London, European banking correspondent, U.K. banking correspondent and senior correspondent covering fixed income and debt restructuring. Joe is fluent in Spanish and a graduate of King’s College, London.

Geoff Smith becomes Financial Regulation Reporter, Europe. He will work closely with reporters and editors around the region to break news on the regulatory issues reshaping the landscape for Europe’s banks and insurance companies. Geoff joined Dow Jones in Frankfurt in 1993 as a capital markets reporter, before stints as Assistant News Editor for energy and Newswires bureau chief in Vienna and Moscow. After a brief foray into investment banking, he returned to Dow Jones in Frankfurt in 2009 to cover the ECB and was latterly London-based Assistant Managing Editor for FX Trader in Europe. Geoff graduated as a linguist from Keble College, Oxford, and is hopeful of quickly adding Regulatory Gobbledygook to the French, German and Russian already on his resume.

Joe, Geoff and Jenny will report to David. David will report to me. Please join me in congratulating all of them on their appointments and wishing them much success in their new roles.

Martin Essex

Two biz journalists leaving WSJ/Dow Jones London bureau

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Two prominent financial journalists left the Wall Street Journal/Dow Jones Newswires operations in London on Friday.

Nicholas Hastings was a senior correspondent for Dow Jones Newswires, as well as a host of “News Hub GMT,” a a 20-minute video show on WSJ.com.  He has written about foreign exchange for more than 25 years.

Martin Essex was a managing editor at Dow Jones Newswires in London, with responsibility for financial markets coverage in Europe, the Middle East and Africa. He is a regular contributor to The Wall Street Journal and wsj.com.

Both say that they are leaving full-time journalism for a while.

“Am taking a break and then going to look at options, see what comes along,” said Hastings in an email to Talking Biz News on Friday.

Essex, who is the co-author of a book on the bond markets, said, “I haven’t decided yet: maybe freelance, downsize, go traveling or maybe all three. Might even take another job if something sufficiently interesting comes along.”

Essex, pictured, also previously worked for the BBC and for Reuters.

Dow Jones

Dow Jones ME for forex, fixed income is leaving

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Jenny Paris, the managing editor in charge of forex, fixed income and macroeconomics coverage for DJ FX Trader and Dow Jones Newswires in Europe, the Middle East & Africa, is leaving the company.

In an email to her colleagues on Friday, Paris wrote:

I don’t do well with mass emails and those of you connected with me in social media know that I keep a low profile in public (and that’s probably an understatement.) So, big apologies to those who don’t know me that well and I’m spamming right now.

To the rest of you — and you’re so many — I’d like to say a special thanks on my last day here after nearly two decades. It’s been a great journey that took me on two continents and four countries, covering some fascinating stories and meeting some wonderful people along the ride. And for that I’ll always be grateful.

Paris had been working out of London. She also spent four years as managing editor in charge of corporate coverage in Asia-Pacific, based in Singapore. Before moving to Singapore, she was Dow Jones Newswires’ Thailand bureau chief.

Paris joined Dow Jones in 1993 as a reporter for The Wall Street Journal Europe in her native Greece.