Dow Jones is combining two of its business units: Its consumer media group — which includes The Wall Street Journal, Barron’s and MarketWatch — and its research tools and news wire services. In a top-management shake-up, Todd Larsen, the former head of consumer business, was named president of the company. Stephen Daintith, Dow Jones’ chief financial officer, will take on the additional job of chief operating officer. Clare Hart, who was president of the enterprise media group, is leaving the company.
Outsell’s analyst Ken Doctor, Affiliate Analyst and Ned May, Director & Lead Analyst commented in the latest Outsell Insight as follows: “The reorganization is a further sign of pervasive change at Dow Jones since News Corp bought it two years ago. Through the deep recession, Dow Jones has moved to maximize the value of its assets while wringing cost efficiencies out of technology introductions and staff reallocation. Installing new leadership in both overall business and editorial direction. That leadership has made the paper — now #1 by paid circulation (print + online) in the U.S. — into a more general news daily, with strong business coverage, in contrast to its longtime position as the nation’s business daily.” “…in Clare Hart’s departure, Dow Jones loses one of its most recognized and respected figures in the marketplace. Hart has been a clear leader in the news aggregation business, and incidentally, one of the few women at the top of major information industry enterprises. She also leaves Dow Jones a significantly less diverse company at the top.” Source: Silicon Alley Insider/Outsell Insight
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