TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Dow Jones Taps McKinsey & Co.

journal logo 2.pngAfter Condé Nast hired consultants McKinsey & Co. to help “realign” the magazine publisher’s business, four magazine ended up shuttered and hundreds lost their jobs.

But Dow Jones, the Rupert Murdoch-owned Wall Street Journal publisher that last week revealed that it had also enlisted McKinsey’s help, insists that this move will help grow the business, not shrink it.

“It is wrong to say we’re engaging consultants to cut costs,” Journal spokesman Howard Hoffman told Forbes. “Our emphasis is on building and growing our products.”

To be fair, the Journal has recently launched new products like its new paid online product aimed at professionals, although cuts have been made — like the closure of the Boston bureau — despite the paper’s recent claim to the title of number one newspaper in circulation. But even the highest circ paper can be run more efficiently and, like with Condé, we’ll be keeping our ear to the ground for big developments coming out of Dow Jones in the next few months. We hope those developments won’t include more layoffs.

McKinsey Comes To The House Of MurdochForbes

Mediabistro Course

Magazine Writing

Magazine WritingStarting September 4, learn how to get your work in top publications! You'll learn how to create captivating stories editors will want and readers will love, understand which magazines are right for your stories, craft compelling pitch letters, and more! You'll leave this class with two polished articles and corresponding pitch letters. Register now!