Making it Official

By Kelly Carr
December 12, 2007 06:17 PM

It's been eight long months since Rupert Murdoch's News Corp. moved to acquire Dow Jones & Co, publisher of The Wall Street Journal, leaving employees to hash through the "what ifs," dish about coverage and discuss possible new leaders. They've wondered about any potential involvement with Murdoch's new Fox Business Network and if having a hands-on leader would result in more reporting resources.

But many are now eager to move forward, to replace conjecture with facts and to understand what it all means to their everyday lives. Today is a step in that direction as shareholders of Dow Jones & Co. are expected to formally approve the acquisition by News Corp. The vote, on the deal valued at more than $5 billion, comes after both companies reached an agreement on Aug. 1.

With the approval, changes at the top will be some of the first staffers see.

Times of London Editor Robert Thomson will become The Wall Street Journal's publisher and Leslie Hinton will take over as CEO. Thomson replaces L. Gordon Crovitz who will continue to write a column for the paper. Joseph A. Stern, executive vice president, general counsel, corporate secretary and member of Dow Jones board of directors, also will leave his post if the acquisition is finalized.

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Copyright © 2008 Donald W. Reynolds National Center for Business Journalism