'Wall Street Journal' to Study News Gathering

Longtime Editor Paul Steiger Sets Retirement for 2007

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NEW YORK (AdAge.com) -- Edging toward changes required by everything from the dawning digital age to a corporate mandatory retirement age, Dow Jones said yesterday that Paul E. Steiger, managing editor of The Wall Street Journal since 1991, would leave at the end of next year and named Paul Ingrassia, president of Dow Jones Newswires for nearly a decade, to the newly created post of VP-news strategy.
Paul E. Steiger, managing editor of 'The Wall Street Journal' since 1991, will leave at the end of 2007; no successor has been named.
Paul E. Steiger, managing editor of 'The Wall Street Journal' since 1991, will leave at the end of 2007; no successor has been named.

The company said in memos to staff that it has not selected a successor to Mr. Steiger. But Mr. Ingrassia still looks like a contender; in his new role, he will lead an effort called the "News Strategy Project" to re-evaluate how Dow Jones properties can best serve consumers and differentiate themselves from the slew of competing financial and business-news outlets.

No newsroom consolidation
"We want to maximize resources dedicated to effort that adds value to readers and users compared with each of our competitors, while minimizing the efforts we focus on lower-value content," said the memo, attributed to Richard Zannino, CEO, and L. Gordon Crovitz, exec VP, Dow Jones; president, Dow Jones Consumer Media Group; and publisher, Wall Street Journal Franchise.

The project is not, however, aimed at consolidating the company's newsrooms, they said. "While closer collaboration among news departments is essential, moving to a single, unified news department is not a goal."

Mr. Steiger's successor will be selected in the "coming months" and announced next spring, the News Strategy Project will present its conclusions around the same time that Mr. Steiger's successor is named.
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