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Dow Jones Reorganizes to Integrate MarketWatch
Friday, 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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