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Posts Tagged ‘Dow Jones’

Morning Media Newsfeed: Klein Out at WaPo | Dow Jones Chief Resigns | Newsweek Delays Print

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Ezra Klein Out at Washington Post (Politico / Dylan Byers on Media)
The Washington Post announced Tuesday that its star economics blogger Ezra Klein will be leaving the paper to start a new venture. “When Ezra joined us in 2009, he was a wunderkind blogger with brash confidence and a burning desire to write a column in the print newspaper,” Post editors wrote in a memo to staff. “As he leaves us, Ezra is still a brash wunderkind, but now his burning desire has a grander scope: He is looking to start his own news organization, an ambition that befits someone with uncommon gifts of perception and analysis.” FishbowlNY Also leaving are Melissa Bell, WaPo’s director of platforms, and Dylan Matthews, a Wonkblog reporter. FishbowlDC “As early as this week, Klein is expected to announce a new venture — described in a memo to Post staffers as a new ‘news organization’ — that will look to staff more than 30 people on the editorial side alone.” Politico For nearly five years, the Post has steered a bounty of financial resources to its star economics columnist and blogger. It has allowed him to have a contributor deal with MSNBC, a column with Bloomberg View, and to write long-form for The New Yorker. It has provided him with eight staffers to keep Wonkblog, his popular policy vertical, flowing with up-to-the-minute charts and analysis. The PR department has promoted him in profile upon profile. But when Klein proposed the creation of an independent, explanatory journalism website — with more than three dozen staffers and a multiyear budget north of $10 million — the Post said enough is enough. BuzzFeed A quick look at Klein’s “following” list reveals he’s quite recently followed Vox Media CEO Jim Bankoff as well Vox property editors-in-chief Joshua Topolsky (The Verge) and Lockhart Steele (Curbed Network). So are Klein and Vox in talks? BuzzFeed reached out to both Klein and Bankoff, both of whom declined to offer comment on the speculation. NYT / Paul Krugman May I say respectfully to the Post: You idiots! You see, Ezra and his team filled a huge gap. That gap exists throughout the news media, although the Times has, I believe, largely closed it in other ways. But it was especially severe at the Post. CJR / Behind The News Although there had been rumblings of his departure for several weeks, news of Klein’s exit drove enough traffic to temporarily crash Poynter’s website, a fact not lost on some observers. Digiday Digital publishing executives have a message for him: Good luck — you’re going to need it. Starting a sustaining publishing venture is harder than ever. It’s easy to be seduced by the current vogue for “personal brands” and the ability of superstars like Kara Swisher and Walt Mossberg to plant their own flag. But when it comes down to it, this is a roll of the dice for a 29-year-old journalist steeped in the wonkier (and less profitable) public policy parts of the media world.

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Lex Fenwick Out at Dow Jones

Lex Fenwick is out as CEO of Dow Jones. News Corp. just announced that Fenwick — who joined the company in 2012 — is departing, and William Lewis will takeover as interim CEO.

The company also proclaimed that it “plans to review Dow Jones’ institutional strategy.”

“We thank Lex for his time and energy at the helm of Dow Jones, and in particular for his original vision of DJX as an innovative way to integrate content and deliver it to customers in a timely manner,” said Robert Thomson, CEO of News Corp, in a statement.

Lewis joined News Corp’s News International in 2010. He most recently served as News Corp.’s chief creative officer.

Michael Rooney Departs Dow Jones, Trevor Fellows Joins as Head of Global Ad Sales

dow-jonesMichael Rooney, chief revenue officer of Dow Jones since 2007, is leaving the company. According to a memo from Lex Fenwick, Dow Jones’ CEO and publisher of The Wall Street Journal, Rooney is departing to “fulfill his dream of traveling around the world with his wife.” Rooney joined Dow Jones from ESPN, where he had served as executive vice president of multimedia sales since 2005.

In the same note, Fenwick also announced that Trevor Fellows has been named Dow Jones’ global head of advertising sales. Fellows comes to the company from Bloomberg LP, where he served as head of global media sales in the states and the United Kingdom.

Below is Fenwick’s full memo.

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Gerard Baker Does Not Like Native Advertising

Gerard Baker GGerard Baker, editor-in-chief of Dow Jones and The Wall Street Journal’s managing editor, is not a fan of native advertising. Capital New York reports that during an Advertising Week discussion, Baker repeatedly slammed the ad units.

At one point, Baker even compared companies using native advertising to Faust, the legendary character who traded his soul to the devil in exchange for unlimited intelligence and other pleasures. Yes, it gets that deep at Advertising Week.

Baker said that sponsored content or native ads blur the line between editorial and ads — a common complaint — and added that in the end, it’s a lose/lose situation:

An advertiser wants to advertise in The Wall Street Journal to be seen and to be associated with a brand like The Wall Street Journal, or The Financial Times or Bloomberg, because those news organizations are respected. If [advertisers] manipulate the digital or print operations of those news organizations, it makes the reader confused as to what is news and what is advertising, and the reader’s trust, the very reason that those advertisers want to advertise in those news organizations, goes away.

It’s Official: AllThingsD and Dow Jones Part Ways

It’s official: AllThingsD and Dow Jones are done. According to a statement just released by Gerard Baker, editor of Dow Jones and managing editor of The Wall Street Journal, AllThingsD and Dow Jones will not sign a contract extension. In the memo, the move is billed as “a mutual separation.”

We first heard rumblings that Kara Swisher and Walt Mossberg — the founders of AllThingsD — were trying to find investors that might be interested in buying a stake in the site late last month. To that end, Fortune is reporting that there are talks underway with Comcast and NBC Universal.

The separation of AllThingsD and Dow Jones also means the end of Mossberg’s tenure at The Wall Street Journal. He had been with the paper since 1970.

Read Baker’s full memo below.

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AllThingsD May Separate From Dow Jones

AllThingsD, the tech news site, is rumored to be working its way away from Dow Jones, the News Corp. subsidiary that owns the site. Fortune reports that AllThingsD’s contract expires on December 31, so Kara Swisher and Walt Mossberg — the founders of AllThingsD — are busy trying to find investors that might be interested in buying a stake in the site.

The asking price is rumored to be somewhere between $10 million and $15 million for a 25 percent or 30 percent chunk of the company. Swisher and Mossberg are looking at media companies, and so far three proposals have been submitted; one of which is from NBCUniversal. Other companies that were discussed include Bloomberg, The Washington Post Company and Condé Nast.

As for now, this is just speculation. Swisher and Mossberg could leave to start a new site and AllThingsD could end up remaining under the News Corp. umbrella. Either way, a source told Fortune that Rupert Murdoch “will probably make the final call on what happens.”

News Corp. to Launch WSJ Profile, a LinkedIn Competitor

Will you accept a friend request from Rupert Murdoch? If you’re lucky, you’ll be asking yourself that when WSJ Profile, News Corp.’s LinkedIn competitor, debuts. As you can see from the picture, WSJ Profile will be almost identical to LinkedIn in what it offers. The Next Web reports that WSJ Profile is expected to launch in the next few weeks.

Lex Fenwick, CEO of Dow Jones, considers WSJ Profile a smart way to keep people glued to the Wall Street Journal. “We will be able to build a network of like-minded people around the world, into a community,” he said.

We agree that WSJ Profile is a good idea, but all we want to know is if it’s a blingee free zone or not.

Robin Riddle Leaves The Economist for Dow Jones

Robin Riddle has joined Dow Jones as publisher of WSJ Custom Studios. Riddle comes to the company from The Economist, where he had been for the past 15 years. He most recently served as the Economist’s vice president of custom publishing and events.

At WSJ Custom Studios, Riddle will have “global responsibility for both custom publishing and special advertising sections,” according to a Dow Jones statement.

Riddle’s appointment is effective immediately.

Dow Jones Makes Two Changes

Dow Jones has made two changes to its Europe coverage. First up, Thorold Barker has been named editor, Europe, Middle East and Africa for Dow Jones Newswires and The Wall Street Journal. In this new role, Barker will be responsible for news output in Europe, the Middle East and Africa. He will be covering the print, digital and local language sites of The Wall Street Journal, Dow Jones Newswires and Financial News.

Additionally, Gren Manuel has been named executive editor for Dow Jones and The Wall Street Journal. He will be tasked with integrating and then overseeing the operations of the newsrooms in Europe, the Middle East and Africa. Manuel will report to Barker.

“As we continue to build an integrated newsroom tasked to pursue our global ambitions, an expanded role in Europe ranks among our highest priorities,” said Gerard Baker, managing editor of the Journal and editor-in-chief of Dow Jones, in a statement. “Given the size of our presence in the region, it represents a tremendous opportunity for us to refine and grow our peerless range of news products and take them to an even wider audience.”

Less Than Six Months After SmartMoney Ends, Dow Jones Launches New Finance Magazine

SmartMoney, the personal finance magazine published by Dow Jones, disappeared from newsstands forever after its September issue. Now, only about six months later, the company has announced… another personal finance magazine! Adweek reports that WSJ. Money is being planned as a spinoff of WSJ., and will debut in March as an insert in the weekend edition of the paper.

Why would Dow Jones create a new magazine after it folded the perfectly good one it already had? Because WSJ. Money will be a finance glossy for the rich. By targeting those with bank accounts so large it makes your stomach turn, Dow Jones is hoping that fancy advertisers — and their fancy ad dollars — follow.

“It’s for people who are voyeuristically interested in the high end and are at the high end,” Mike Miller, senior deputy managing editor at the Journal and the editor overseeing Money, told Adweek.

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