Tag Archives: Dow Jones & Co.

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Dow Jones sells community papers to focus on biz journalism

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News Corp., the parent of The Wall Street Journal, Marketwatch.com and Barron’s, has sold a collection of community newspapers called the Dow Jones Local Media Group to an affiliate of Fortress Investment Group LLC for an undisclosed amount.

Nathalie Tadena of Dow Jones Newswires writes, “Dow Jones Local Media, which was formerly known as the Ottaway community newspapers, operates 33 publications mainly on the East Coast. The Wall Street Journal, owned by News Corp, reported in April that the company was exploring the group’s sale.

“Dow Jones Local Media’s operations will be managed by GateHouse Media, one of the largest publishers of locally-based print and online media in the U.S.

“‘We are confident that the papers will prosper under the new owners, but they were not strategically consistent with the emerging portfolio of the new News,’ News Corp Chief Executive Robert Thomson said.

“The Dow Jones Local Media Group daily newspaper franchises include the Times Herald-Record in Middletown, N.Y.; the Cape Cod Times in Hyannis, Mass.; and The Record in Stockton, Calif.”

Read more here.

Chip Cummins

WSJ names Cummins its business editor for Europe

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Thorold Barker, the editor of Europe, Middle East and Africa at Dow Jones Newswires and The Wall Street Journal, sent out the following announcement on Tuesday:

We are delighted to announced that Chip Cummins is appointed Business Editor, Europe.

Based in London with a local team of writers and editors, Chip will oversee corporate coverage across the continent both in real-time and print. The role is vital as we complete the integration of wsj and newswires – positioning the staff to take on more high impact analytical pieces and break more news in European hours.

Chip will report to Bruce Orwall in London with a dotted line to Dennis Berman in New York.

Chip’s career at Dow Jones spans 17 years and three continents, establishing him as one of our newsroom’s premier editors and reporters. He joined Dow Jones in 1996 as an overnight copy editor for The Asian Wall Street Journal in Hong Kong. He was a staff reporter for Dow Jones Newswires in London, then moved to Dallas as a staff reporter for the Journal. He then returned to London, where he reported on energy for the Journal and helped cover the invasion and occupation of Iraq.

Next, he served as the Journal’s bureau chief for the Middle East and Africa, based in Dubai. Most recently, he was based in Toronto as Canada bureau chief for the Journal and Dow Jones Newswires.

Born and raised in Louisville, Ky., he graduated from Harvard College, after which he served four years in the U.S. Navy.

Please join us in wishing Chip the very best for his new role.

Edward Roussel

Wall Street Journal readies website redesign

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Edward Roussel, who joined Dow Jones this past June as head of consumer product, speaks with the Dow Jones newsletter The Lead about the redesign of WSJ.com and data-driven journalism.

Here is an excerpt:

Tell us what the WSJ.com facelift will look like.
ER: The biggest single change since the last overhaul of the website in 2008 is the emergence of mobile as the dominant medium for distributing information. So the challenge is to take a website designed for desktop computers and turn it into a website that looks great regardless of whether you’re on mobile, tablet, or desktop.

This makes simplicity the overriding design goal. On a 7×5 cm screen there is no room for extraneous detail – every pixel counts. Like a great editor who rigorously weeds out superfluous words, our designers need to challenge themselves to endlessly simplify the experience. Consistency is critical, too. With most of our readers working on multiple screens these days, we need to make it easy for them to find their favorite content as they switch between devices.

The data-driven journalism trend – what does it mean for us?
ER: How we use data has implications for the entire company. On the business side, it will help us to serve ads that are more relevant to our readers and help us better serve subscribers as we get to know them.

On the editorial side, it opens up a whole new avenue of investigative reporting. This isn’t without risk: think Wikileaks, Edward Snowden or the Bloomberg journalists who hacked their own customers’ data. But there is no question that this will be a major trend in journalism in the months and years ahead. Nate Silver was, arguably, the most influential journalist of the 2012 presidential election because his grasp of data gave him a competitive edge over old-school political reporters and pundits.

Read more here.

Leia Parker

Dow Jones ME in London leaving wire service

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Leia Parker, a Dow Jones Newswires managing editor for energy and commodities coverage in Europe, Middle East and Africa, is leaving the wire service. Friday is her last day.

In an email to the staff, Parker wrote:

I’ll soon be moving on after 13 wonderful years of working for Dow Jones Newswires and contributing to The Wall Street Journal in the EMEA and Americas regions. Thanks to all of you who have made these the best years of my life.

It’s been a privilege to work with so many gifted reporters and editors around the world, covering energy and commodities companies and markets.

Parker received a bachelor’s degree in journalism from Brigham Young University and a master’s degree from the Columbia University Graduate School of Journalism. She started at Dow Jones as a reporter and an assistant news editor in 2000. She later managed the U.S. petroleum reporting team from New York. Parker moved to London in 2005.

All Things D

Why News Corp. needs to hold on to All Things D

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Felix Salmon of Reuters writes why it is important for News Corp. to hang on to its All Things D tech news website run by journalists Kara Swisher and Walt Mossberg.

Salmon writes, “What’s happened here is that Swisher and Mossberg have created something with substantial value — as much as $50 million. And since the value lies with them, rather than in the ATD brand, they can walk away and find a strategic partner willing to invest an eight-figure sum in creating a new, entirely independent brand. That’s got to be attractive to them, for two reasons: firstly, they would become truly independent, and in control of their own destiny. No more begging their New York paymasters for extra investment: if they own the company, they can make all those decisions themselves. And then, of course, there’s the money: if they each own say 25% of a $50 million company, that’s a lot of paper wealth which they’re never going to accumulate working for News Corp, and which — in the way of Silicon Valley — could become worth much more still if their expansion plans work out the way they hope they will.

“Meanwhile, Rupert Murdoch stands firmly on the other side of the Great Paywall Divide, and feels as a matter of principle that all of his properties (except, perhaps, nypost.com) should charge readers for their content. He’s also human, which means that, like all other humans, he’s deeply reluctant to pay a large amount of money to buy something he already owns.

“Murdoch, by rights, should be able to retain control of ATD, complete with Swisher and Mossberg. They’re offering very little to his rivals: a minority stake, no editorial control whatsoever, and probably very little cashflow, at least for the first few years, since as a startup they’re going to want to reinvest all of their revenues back into their company. Meanwhile, News Corp has the opportunity to own ATD 100% (indeed, it already does), and can offer Swisher and Mossberg the ability to invest in the site without having to go through the hassles of rebranding and relaunching. Given the economics of control premiums, Murdoch should easily be able to promise significantly more resources than his rivals can come up with.

“But after years of writing the entrepreneurial gospel, it’s understandable that Swisher and Mossberg might want to live it for themselves. And they’re both wealthy enough to afford a few years of startup wages: Mossberg has been one of Murdoch’s highest-paid print journalists for years, while Swisher, who’s well paid herself, is also married to long-time Google executive Megan Smith.”

Read more here.

Nell Henderson

WSJ/Dow Jones names editor overseeing global banks

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Dow Jones Newswires executive editor Almar Latour sent out the following email to the staff:

I’m pleased to announce that Nell Henderson is appointed Editor, Global Central Banks. In this new role, she will oversee an expansion in central banks coverage for DJX, our new specialized real-time digital news service, and The Journal.

Nell joined the Journal as economics editor in January 2011, overseeing coverage of the Federal Reserve, fiscal policy and international economics. Previously, she covered the Fed as a reporter at the Washington Post, where she spent more than 20 years as a reporter and economics editor. Between the Journal and Post, Nell spent three years at McKinsey Global Institute.

Nell will remain based in Washington and will report to Jerry Seib for news matters and to Dave Pettit for DJX strategy and development.

 

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Dow Jones auto reporter elected union VP

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The nominations period for the 2013 IAPE Special Election has closed, and the Union Election Committee has declared business journalist Jeff Bennett the new vice president for Local 1096.

Bennett, currently an IAPE location director in Detroit, was the only nominee. There were no nominations received for the other vacant positions on the IAPE Board of Directors — Location Director in Boston and Chicago.

With fewer than 18 months remaining in the current term of office, those positions may now be filled on an interim basis by appointment from the IAPE Board. The location director position held by Bennett in Detroit is now considered vacant and may also be filled by the Board.

Bennett has been with the Dow Jones & Co. for almost six years and works in the Detroit bureau covering General Motors Co. He has spent more than 25 years in the news business starting when he covered sports for a weekly newspaper while in high school.

He is a graduate of Marquette University in Milwaukee, Wisc., and currently resides in Ferndale, Mich., with his wife, Kim, who is a reporter at the Detroit News. He has worked at Bloomberg News, the Detroit Free Press, The Greenville News in S.C., The Jackson Sun in Tennessee, and The Freeport Journal-Standard and City News in Illinois.

Bennett had been serving his second term as an IAPE location director, and is a member of the Executive Council for Local 1096. He fills the position last held by Bob Kozma, who assumed the IAPE presidency on June 1, 2013 after Steve Yount resigned for health reasons.

Lex Fenwick

The evolution of the Dow Jones brand

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Brittaney Kiefer of PRWeek talked to Dow Jones & Co. CEO Lex Fenwick about evolving the brand through global expansion, new products, and engaging employees.

Here is an excerpt:

What is DJX and why did Dow Jones launch it?

We took all our content at Dow Jones – data, news, analysis, and software – and packaged it together in one product called DJX.

It’s the first revolutionary thing we have done to take everything we’ve got and put it all in one integrated package. Everybody will pay the same user price. This will make for a better user experience.

Previously we had many products with different niches. We sold access to our information to enterprises and they would then distribute that content in different places.

Now we’re believers in building a product rather than providing a feed. When you provide a feed, you don’t know who your end customer is. You lose control of how your service manifests itself. Your product does not have a recognizable face because everyone is used to seeing it in a different way.

Read more here. A subscription is required.

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Dow Jones Newswires columnist Lewis is laid off

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Al Lewis, a business journalist who has written a column for Dow Jones Newswires for the past five years, has lost his job, Talking Biz News has confirmed.

His last day will be Aug. 2. The position has been eliminated as a result of the combination of The Wall Street Journal and Dow Jones Newswires newsrooms.

“I had a good five-year-run,” said Lewis when reached by Talking Biz News on Monday.

Lewis said he will continue to write a column for The Wall Street Journal Sunday, which is printed in papers around the country, and once a week for Marketwatch.com, another Dow Jones property, as a freelancer. And he plans to continue writing his “Tell it to Al” blog. But he is looking for full-time work.

While writing his Dow Jones column, Lewis won five Best in Business Awards from the Society of American Business Editors and Writers and two Clabby Awards, an internal Dow Jones competition.

Lewis also once wrote a business column for the now-defunct Rocky Mountain News.

Wendy Bounds MB

Inside the WSJ/Dow Jones newsroom in New York

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Longtime Wall Street Journal journalist Wendy Bounds gives a tour to Mediabistro.com of the paper’s newsroom at 1211 Avenue of the Americas.