Crovitz to resign as ‘Wall Street Journal’ publisher at close of News Corp. deal

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New York—Dow Jones & Co. said Friday L. Gordon Crovitz, publisher of The Wall Street Journal, exec VP-Dow Jones and president of its Consumer Media Group, will resign at the close of the sale of Dow Jones to News Corp.

Following the close, which is expected later this month, Crovitz will write a column for the Journal.

In a memo to colleagues released Friday, Crovitz wrote: “I am fortunate to have had a diverse career at The Wall Street Journal and Dow Jones, over the course of 25 years, and look forward to continuing my affiliation by contributing a column to the Journal on the Information Age.”

News of Crovitz’s pending departure comes a day after Dow Jones announced that CEO Richard Zannino would be leaving the company following completion of News Corp’s $5.6 billion takeover of the company. News International Executive Chairman Les Hinton is expected to succeed Zannino as Dow Jones CEO.

Dow Jones also announced that Joseph Stern, exec VP-general counsel, corporate secretary and a member of Dow Jones’ board, will be leaving these positions following the close of the acquisition but will remain with the company through March 31 to assist in the transition.

Also on Friday, News Corp. promoted James Murdoch to run News Corp.’s operations in Europe and Asia, putting him in line to succeed his father, Rupert Murdoch, who is chairman-CEO.

James Murdoch will step down as CEO of British Sky Broadcasting Group and rejoin the board at New York-based News Corp, the companies said in separate statements. Jeremy Darroch, BSkyB’s CFO, was named CEO.

—Matthew Schwartz

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