Dow Jones & Co. is merging two of its biggest business units in one of its most aggressive moves yet to integrate the company under the leadership of News Corp.
The consumer media group, which produces frontline products like the Wall Street Journal, MarketWatch and Barron’s, will be merged with the enterprise media group. The latter carries the namesake newswire service as well as Factiva.
This is the biggest restructuring at Dow Jones since the News Corp takeover in 2007. Dow Jones CEO Les Hinton says this change wasn’t driven by a need or desire to reduce costs but to help serve customers “irrespective of platform or distribution channel.”
This is an important acknowledgement of the shift in content consumption — ultimately, the consumer doesn’t care where the news comes from, as long as it’s credible and accurate. The question then: Does Dow Jones still need as many brands as it has in its product showcase?