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A strategic new position at Dow Jones, aimed at developing synergies with various operations: it has named Paul Ingrassia as VP of news strategy to lead a re-evaluation of the company’s news production efforts to better meet the needs of various audiences while reducing duplication.
Ingrassia has been president of Dow Jones Newswires for almost a decade. The other members of the news strategy project will be Marcus Brauchli, deputy managing editor of The Wall Street Journal; Dave Callaway, editor in chief of MarketWatch; Ed Finn, editor of Barron’s; Bill Grueskin, managing editor of the Wall Street Journal Online; and Neal Lipschutz, managing editor of Dow Jones Newswires.
I’m asuming this new position means that the till-now disparate Web/electronic operations of WSJ.com, MarketWatch.com, Barron’s, Factiva, Newswires, VentureWire, Newsletters and others would also come together or at least optimized.
The company also said Paul Steiger, managing editor of WSJ, will stay in his job until the end of 2007, when he faces mandatory retirement, and they’re looking to select a replacement.
From the internal memo, posted on Romenesko: “This is the right time to take a step back and reevaluate our news strategy in a comprehensive way, especially as editors of our flagship Wall Street Journal plan for ‘Journal 3.0: Newspaper for the Digital Age,’ which involves rethinking what a newspaper should be at a time when readers get their news and information from many new sources and across many media. We will be the first media company to focus the print and online dimensions of our franchises based on what each medium can do best for readers and advertisers“.
From the project goals listed, I find this interesting: “Reduce the cost of producing “commoditized” content to allow more resources to be focused on unique, differentiating content”. Simple, yet difficult as hell…
NYTimes: “Merging all our news operations is not the goal of this,” Ingrassia said. Rather, the company wants to ensure that each of its news departments concentrates on bolstering the creation of content that differentiates it from its competitors while minimizing any duplication of what it considers basic, commodity information.