Tag Archives: Dow Jones & Co.
by Chris Roush
The story reads, “The team has been in existence for under a year, but it’s already developed a few products that are soon to launch. One is a ‘digital vault’ designed to protect sensitive user-owned content and provide Dow Jones customers with a channel for sharing and discussing the content with one another. The vault will initially focus on the exchange of sensitive information between lawyers, accountants and tax advisers, among others.
“Another soon-to-debut product is built to encourage conversation between Wall Street Journal readers. This technology, which Levy describes as a hybrid between email and chatting, is meant to take engagement a step further than just commenting on a Journal article. ‘We have over 2 million people paying for the Journal. And these are highly educated, influential professionals who have a lot in common with one another,’ Levy explained. ‘Right now, we engage our readers, but we don’t necessarily encourage them to engage with one another in a long-lasting way that will build relationships and enable collaboration.’
“The products coming out of the R&D department are ultimately developed to prepare Dow Jones for an all-digital world, a key tenant of this innovation lab’s philosophy. ‘It’s my expectation that in a number of years, 100 percent of [Dow Jones] revenue will come from digital. People aren’t going to want to hold a newspaper,’ Levy said. ‘For as long as people want to hold a newspaper, we’ll give it to them, but sooner or later that will change. And by then, we’ll have a digital business model in place.’”
Read more here.
by Chris Roush
Authorities have conducted a wide-ranging investigation into whether media companies facilitated insider trading on Wall Street by prematurely releasing market-moving government data, according to a Wall Street Journal article.
Brody Mullins and Devlin Barrett write, “The federal investigation examined whether news organizations used high-speed transmission systems to give some investors access to economic data a fraction of a second before the official release time, according to officials familiar with the probe.
“Among the media companies investigated were Bloomberg LP, Thomson Reuters Corp. and the Dow Jones & Co. unit of News Corp., which are the leading conduits of federal economic data to traders right after release, though not the sole ones.
“Investigators recently decided not to file any criminal charges, said people familiar with the matter. Investigators had launched the probe after spotting trading patterns suggesting some traders received data slightly before the release time; the investigators decided against filing charges because they couldn’t link the pattern to specific actions by media companies, people familiar with the probe said.
“A key issue, one of the people said, was whether the government could prove in court that a time advantage for a trader of a sliver of a second — as little as a few thousandths — was enough to conduct profitable trades on confidential information.”
Read more here.
by Chris Roush
Jonathan Krim, the acting editor of Marketwatch.com, sent out the following staff announcement on Wednesday afternoon:
I am delighted to announce that two WSJ/WSJDN stars are taking new roles at MarketWatch:
Silvia Ascarelli, a longtime Wall Street Journalist, will join us as Senior News Editor. Silvia has deep and varied markets experience, serving as a news editor at the Journal since 2005 and responsible for the team that handles the Money & Investing portion of the Asian and European editions.
Before joining the desk, she was a reporter in London and Frankfurt for 17 years for either the Journal or Dow Jones Newswires, writing about everything from banker behavior on IPOs and stock-exchange deals (that often fell apart) to an earlier European currency crisis. She previously worked for the Jersey Journal in Jersey City and The Times in Hammond, Indiana. Silvia will have several duties in her new role, including managing the MarketWatch homepage for portions of the day and helping to coordinate and edit news and special-projects coverage.
A graduate of the University of Missouri, she took off the summer of 2000 to bicycle 4,345 miles across the U.S., but now mostly settles for biking to the train station.
Jessica Marmor Shaw, currently an editor on the WSJ mobile team, will become Mobile Editor for MarketWatch. Jess joined WSJ.com in 2005 on the night news desk, eventually managing the team for two years. She led the online night news desk through pivotal changes for both online and print, including the transition to Methode publishing, the growth of the paper in the form of Greater New York, Off Duty and Review and the launch of the WSJ iPad app.
In 2011, she brought her experience with news production to the WSJ mobile team, and in the past year helped to expand the design and interactive capabilities of the app, helped to launch the “universal” WSJ iPad/iPhone app, and helmed the mobile 2012 election day effort.
In her new role, Jess will oversee all mobile editorial strategy and execution for MarketWatch, including spearheading the launch of a new universal app this spring. Currently based in San Francisco, she is a graduate of the Columbia University Graduate School of Journalism and Williams College. In her off time, Jess is a fanatic about yoga, particularly the kind where the room is about 392 degrees. Celsius. Or something like that.
Start dates on both are being formalized. Please join me in congratulating Silvia and Jess.
by Chris Roush
John Biers, an energy reporter for Dow Jones Newswires and The Wall Street Journal, left the company on Friday.
He will begin his new job with Agence France-Press on Monday.
In an email to his colleagues on Friday, Biers wrote, “I’ve really enjoyed working with everybody over the eight or so years I’ve been with the company, and I’ll miss you all a great deal. Starting Monday, I’ll be covering business issues from New York for Agence France-Presse.”
Biers was Houston bureu chief of Dow Jones from May 2003 to August 2008. Before that, he was an energy reporter for The New Orleans Times-Picayune.
Before that, he was a Capitol Hill correspondent for States News Service for three years. Biers is a Harvard graduate.
by Chris Roush
There are some interesting business journalism facts in the News Corp. filing Friday with the Securities and Exchange Commission that will split its newspaper and media operations into a separate company.
WSJ.com, which offers both free and premium content, averaged more than 34 million visitors per month on average for the 12 months ended September 30, 2012 according to Adobe Omniture.
Barrons.com had more than 165,000 paid subscribers on average for the 12 months ended September 30, 2012.
MarketWatch.com averaged nearly 14 million visitors per month for the 12 months ended September 30, 2012 according to Adobe Omniture.
Dow Jones Newswires publishes over 19,000 news items in 14 languages each day via terminals and trading platforms reaching hundreds of thousands of financial professionals. This content also reaches millions of individual investors via customer portals and intranets of brokerage and trading firms, as well as digital media publishers.
The full filing can be found here.
by Chris Roush
The News Corp. spinoff that will be the parent of The Wall Street Journal lost money in the most recent quarter, and its CEO, current Journal managing editor Robert Thomson, will be paid $2 million, reports The Journal.
John Jannarone of The Journal writes, “In the first quarter of fiscal 2013, the publishing company, which will retain the News Corp. name, would have had a net loss of $92 million compared with a net profit of $38 million a year earlier. That was also largely because of a restructuring charge. But its results were also hurt by legal fees related to the phone-hacking scandal in its U.K. newspaper division and development costs in its education division.
“In the quarter, Ebitda at the news and information-services division fell 34% to $126 million from a year earlier. The decline was mainly the result of lower advertising revenue at the company’s Australian newspapers.
“The book-publishing division, which includes HarperCollins, saw Ebitda rise to $40 million in the quarter through September from $31 million a year earlier.
“The publishing company’s new chief executive, Robert Thomson, who is now The Wall Street Journal’s managing editor, will earn a salary of $2 million and a performance-based bonus with a $2 million target, the filing showed.”
Read more here.
by Chris Roush
The Dow Jones News Fund is recruiting media and news organizations to hire 2013 summer interns for 10 weeks in its business reporting internship program.
This is an opportunity for news organizations to hire great interns who have already been vetted by the Fund. Media outlets who want to enroll their own candidates in the pre-internship training program can also coordinate with the Fund. Placements are being made and should be completed by January.
Among participating media are The Denver Post, the Cape Cod Times, Barron’s and Thomson-Reuters. The Fund invites online, on-the-air and niche publications as well as those with non-traditional business coverage to participate.
DJNF business reporting interns will participate in an intensive training course at New York University from May 25 to 31. The 2013 program director is Will Sutton, a Society of American Business Editors and Writers member who serves on its diversity committee. Sutton has supervised business coverage as a newspaper editor and he was a 2012 Donald W. Reynolds Visiting Professor of Business Journalism at Grambling State University. He is a former president of the National Association of Black Journalists and a co-founder of what became UNITY: Journalists of Color. Interns will be ready for work by June 3.
Interns will ramp up knowledge and skills in earnings reports, reading Securities and Exchange Commission documents, IPOs and more. Sutton will include SABEW members among the faculty of business journalists from Dow Jones, The Wall Street Journal and The New York Times as well as other news organizations. Academic professionals will also help interns learn how to dig for information in documents and online and how to use social media to report on business. Reach Sutton via Twitter at @willsutton or email at email@example.com.
News organizations are asked to provide a training grant of $1,000 to DJNF and to pay a weekly salary of at least $350 for no fewer than 10 weeks of work.
The student application deadline has passed, so interested undergraduate and graduate students can plan to apply for the 2014 program.
by Chris Roush
Anusha Shrivastava, a reporter for Dow Jones Newswires and The Wall Street Journal for the past six years, is departing for a job at the Columbia Graduate School of Journalism at the beginning of next year.
In an email to the staff, Shrivastava writes, “After more than six years covering exciting and unusual beats ranging from the asset-backed securities and commercial paper markets to foreign exchange and money market funds, I am heading out for a fresh adventure.
“I’m joining the career services group at Columbia University’s Graduate School of Journalism, starting Jan. 2.”
Shrivastava has a PhD in industrial relations from Jawaharlal Nehru University in India and a master’s in journalism from Columbia University.
She previously worked for the Hartford Business Journal, the Associated Press and the Waterbury Republican American. She was also the South Asian Journalists Association president from 2009 to 2011.
While in India, Shrivastava worked as a reporter and segment producer for Asia Business News in New Delhi, India, from 1996-1998 and for BBC World Television from 1993-1996.
She has written for The Times of India and The Hindustan Times, two of India’s largest English language dailies from 1988-1993. She is the co-author of a book “Comparative Government and Politics – Concepts and Emerging Trends.”
by Ed O'Farrell
If you’re familiar with coverage of the technology beat, you’re undoubtedly familiar with All Things D run by Walt Mossberg and Kara Swisher.
In her statement, Swisher discloses the following information:
- Swisher’s spouse, Meghan Smith has been an executive at industry giant Google since 2003 and derives a substantial amount of her income from Google shares and options. Swisher states she does not make decisions related to these positions nor does she own or have future rights to own or control any of them;
- Swisher pledges she will not discuss anything with her spouse prior to publication and will not report any information she gleans from her spouse unless it can be attributed by name to her in that particular instance;
- Although she does intend to break news on All Things D she will make, “subjective comments on the business and strategies of technology companies and issues”;
- While Dow Jones is the owner of All Things D, Swisher and Mossberg have established an LLC whose purpose is to manage payments to independent contractors, including herself;
- Swisher does not coordinate her work with the advertising sales staff, nor does she solicit or sell ads for the newspaper, web site or sponsorships for the All Things D conference;
- While she does make a number of unpaid speeches each year, if she accepts a speaking fee it will not be from a company she covers.
Swisher acknowledges her disclosure is “more than most of you want to know,” but if you’re an end user like me you do want to know as much as you can about writers’ conflicts in order to gauge the credibility of their reporting or analysis.
So I am a bit dismayed that concerted disclosures from prominent voices such as Swisher and Mossberg continue to be conspicuously absent from their counterparts in the business and financial press, where conflicts and cynicism are at least as prevalent if not greater.
Ed O’Farrell is an avid reader of business journalism. He is also worked in b2b business news publishing, having been employed by Institutional Investor, the Bond Buyer, and Money-Media in various sales and marketing capacities.