3008.jpgRupert Murdoch‘s Dow Jones & Co announced today that effective immediately (their words, not ours) former Dow Jones Newswires editor Andrew Dowell will be heading up a new “corporate group” that will be covering the goings-on at large companies such as IBM, GE, and “New York retail and fashion.”

The Wall Street Journal editor-in-chief Robert Thomson clarifies:

“We formed the New York corporate group to focus on the importance and raise the visibility of the main corporate beats that the Journal covers. This group will also help to strengthen the cooperation between Newswires and Journal reporters.”

So think: a whole network of wire reporters focused entirely on New York businesses. Sounds like the Journal wants to make itself the go-to publication for covering our fair city and the compa

This is just the latest in Dow Jones’ moves to restructure the way it covers the news. Earlier this week, the Journal publisher unveiled plans to combine is consumer arm of its news coverage with the enterprise operations — or the newswire. Today’s news shows Dow Jones’ first attempt to split up this new combined division into smaller, more manageable (we would imagine) beats.

Press release after the jump.

Read more