Dow Jones Reorganizes to Integrate MarketWatch
Posted on February 11, 2005
Dow Jones & Company has reorganized its Consumer Electronic Publishing group as a part of the integration efforts associated with its recent acquisition of MarketWatch, an online provider of business news and financial information. As part of the reorganization, 97 positions from Dow Jones and MarketWatch have been eliminated from the human resources, finance, technology, advertising sales, marketing and news departments. MarketWatch will be integrated with the Dow Jones Consumer Electronic Publishing business, which comprises The Wall Street Journal Online at WSJ.com, several free advertising-supported vertical websites, licensing of content to websites, and The Wall Street Journal Radio Network.
MarketWatch will be maintained as a distinct brand. The product logo, which had been "CBS MarketWatch," has become "MarketWatch from Dow Jones." The MarketWatch brand has about 8 million unique visitors per month.
Todd H. Larsen, president of Consumer Electronic Publishing, announced the reorganization of his unit. Consumer Electronic Publishing will maintain separate news operations for MarketWatch and WSJ.com; have a coordinated online advertising sales operation that will sell advertising across all Journal and MarketWatch Web properties; and have a combined marketing group responsible for managing all subscription marketing and customer-oriented functions for the division. The reorganization retains key personnel who have played a significant role in building the MarketWatch business.
- Dave Callaway will continue in his current role as the editor in chief of MarketWatch and remain responsible for all MarketWatch news operations, including the delivery of MarketWatch's ongoing commitments to Thomson Financial. Bill Grueskin will remain managing editor of the Wall Street Journal Online, and also will take on editorial responsibility for The Wall Street Journal vertical sites.
- Jeff Davis will continue in his current role as senior vice president and general manager for MarketWatch Information Services. In this role, Mr. Davis now will manage the combined licensing businesses of Consumer Electronic Publishing and MarketWatch.
- Randy Kilgore, currently vice president of advertising sales for the Online Journal, has been named senior vice president of advertising sales and will take on responsibility for the combined advertising sales organization for both the Online Journal and MarketWatch. Mr. Kilgore will be joined by Scot McLernon and Mike Henry, who each have been named vice presidents for the division, and will act as chief sales and strategy officers for MarketWatch and the Journal network, respectively.
- Jessica Perry will become senior vice president for marketing and business development. In this role, Ms. Perry will oversee the group responsible for all subscription marketing, business development and customer-oriented functions for the division. Messrs. Callaway, Grueskin, Davis, Kilgore and Ms. Perry all will report to Mr. Larsen.
- Other members of the MarketWatch management team will continue in key roles in the combined organization. They include: Dan Silmore, who previously served as vice president of marketing and public relations at MarketWatch, and now will become general manager of MarketWatch and its newsletter business; Frank Barnako, vice president of the MarketWatch Radio Network; Bob Leverone, vice president of the MarketWatch television operation; and Jamie Thingelstad, chief technology officer of MarketWatch.
- MarketWatch Chairman and Chief Operating Officer Larry Kramer will serve as a
consultant to Dow Jones to support postmerger integration efforts and new-product
development projects within Dow Jones Electronic Publishing.
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