Another WSJ Executive Resigning

Discussion in 'Wall St. News' started by Qty, Apr 22, 2008.

  1. Qty


    Journal's Managing Editor to Leave Post
    April 22, 2008; Page B1, WSJ

    "Marcus Brauchli is expected to resign as managing editor of The Wall Street Journal after 11 months in the job, and an announcement could come as early as Tuesday, according to people familiar with the situation.

    The impending departure would come just four months after the Journal's parent, Dow Jones & Co., was acquired by News Corp. for $5.16 billion.

    The Journal's publisher, Robert Thomson, may take over as interim managing editor of the paper, say these people. Despite the publisher title, Mr. Thomson already was involved in overseeing editorial matters for Dow Jones properties such as the Journal, newswires and Barron's magazine. A search for a new managing editor was expected to begin shortly, with candidates coming from both inside and outside the paper.

    Mr. Brauchli is expected to remain with News Corp. It wasn't clear whether his role would be as a consultant or an executive. A person familiar with the negotiations called the decision "amicable."

    "Mr. Murdoch has made it clear both internally and in public that although he generally held the paper in high regard, he would move fast in making changes. He moved swiftly after the acquisition was complete to overhaul the business side of the company. Most key Dow Jones executives relinquished their posts, including the chief executive, chief financial officer, Journal publisher, general counsel and others.

    Mr. Murdoch had also been pushing for various editorial changes -- more general news in addition to business news, the coming launch of a glossy luxury magazine, more variety and urgency on section fronts."

    ** Maybe there will be a new section: "What's new on ET" :p :D
  2. hughb


    I just got my first subscription delivery today. I love this paper, I always have. Murdoch had better not fuck it up. Whatever the WSJ is doing, they're doing it right. They have been hurt the least so far in the decline of newspapers.
  3. I think you are going to be disappointed. WSJ will ultimately go the way of Fox News. Give it time. I canceled my subscription once Murdoch bought it. Why not read it for free online instead?
  4. So it's going to become akin to a bad parody?

    If so, that's highly disappointing. The WSJ was respected for its news coverage of all things business related by a broad spectrum of people.

    Murdoch pledged not to interfere with the news operations and editorial board of the WSJ, and it looks like he is a pure, unadulterated liar.
  5. Yeah, I laughed when he made that pledge. I knew it would be only a matter of time before they started mucking with it. I hope I am wrong but doesn't look good so far.
  6. hughb


    Well, when the headlines are about CEO's adulterous affairs, I'll consider cancelling. I hope there is someone out there that can beat Murdoch back if he starts messing around. I have no idea who it would be though.
  7. hughb


    Am I the only person in the world who reads the market data section of the paper? There doesn't seem to be many advertisers in that section of the paper, I get the feeling no one reads it anymore. If you haven't seen it in a few years, it's changed quite a bit. The stock tables are just a whisper of what they used to be, but the Stocks & Stock Markets section has good data on price and volume movers.
  8. hughb


    Is there a group or club for WSJ print subscribers? maybe we should form one and put a shot across Murdoch's bow. Our logo could be a circle and slash over a picture of Bart Simpson. Our motto, "don't mess with OUR paper".
  9. Qty


    WSJ Editorial Committee to Meet
    As Editor Prepares to Step Down

    April 22, 2008 12:06 p.m.

    The special committee charged with overseeing the Wall Street Journal's editorial independence is scheduled to hold a conference call at noon, ahead of the expected resignation of Journal managing editor Marcus Brauchli, according to people familiar with the matter.

    Mr. Brauchli is expected to tender his resignation as early as Tuesday, just four months after News Corp. acquired the Journal's parent, Dow Jones & Co. A spokesman for Dow Jones declined to comment.

    The purpose of the call isn't clear. While the committee has to approve hiring of a new managing editor, the agreement covering its creation says nothing about its role if the editor resigns. The committee was created in a negotiation between News Corp. and Dow Jones leading up to last year's sale. (See the text of the agreement.)

    Thomas Bray, chairman of the special committee, declined to comment on the meeting, and referred a reporter to an article the committee published in the Journal in December. In that piece, the committee says "The central challenge to the committee will be to distinguish between change and practices that might threaten Dow Jones' well-earned reputation for calling things as it sees them."

    - Slim hope, IMO :(
  10. hughb


    This is bad. Ironically, today is the first day I've recieved delivery of my subscription. I've always bought at the newsstand.

    Murdoch must be getting ready to do something, that's why this guy is walking out after just four months.
    #10     Apr 22, 2008