Dow Jones combines WSJ, news wire businesses
NEW YORK (AP) — Dow Jones & Co. is dismantling the divisions separating its flagship newspaper, The Wall Street Journal, from the investment tools and other services aimed at a narrower business audience.
The change announced Monday combines Dow Jones’ consumer media group, a segment that included the Journal and Barron’s, with its enterprise media group, which includes the Dow Jones Newswires, the Dow Jones stock indexes and the business research service Factiva.
Dow Jones, owned by News Corp., thinks the overhaul will enable it to identify and respond to customer needs more quickly.
The combination doesn’t involve any layoffs among Dow Jones’ roughly 6,000 employees, spokesman Howard Hoffman said.
But the shake-up resulted in the departure of Clare Hart, who has been president of the enterprise media group.
As part of the shuffle, Todd Larsen, who previously led Dow Jones’ consumer media group, will become the company’s president. Stephen Daintith, Dow Jones’ CFO, will take on the additional job of chief operating officer.
The new alignment didn’t touch Dow Jones’ local media group, which oversees the company’s smaller publications, including eight daily newspapers and 15 weeklies in six states.