Dan Colarusso, who has held top editorial posts at the NY Post, Condé Nast’s Portfolio and briefly at Business Insider, is leaving his post as managing editor of Bloomberg Television to join rival Reuters (NYSE: TRI) as the news service’s global head of programming.
The defection from Bloomberg TV to Reuters comes as the financial news services try to expand their audiences to a more general business audience while continuing to jockey for position among Wall St. traders and firms, which are experiencing massive layoffs amid the wild daily swings of global market indices. One of the central areas of that battle, which is also being waged by Dow Jones (NSDQ: NWS) as well as smaller outlets like TheStreet.com (NSDQ: TST) and Seeking Alpha, apart from web traffic, is around getting video viewers.
Last year, Reuters introduced a video on demand option for its subscribers called Reuters Insider. Colarusso will take over responsibility for that video product and will report directly to Chrystia Freeland, editor of Thomson Reuters Digital.
In the meantime, Chris Cramer, who has previously run much of Reuters’ video programming efforts, will become editor at large and will focus on several key projects as Reuters expands its multimedia focus.
Over the summer, Reuters’ Markets division was the focus of a major shakeup that had several top executives ousted, as the company sought to streamline operations and manage its costs better in the face of disappointing results from products like Reuters’ Eikon and Elektron platforms, which were intended to attract more financial services customers as the company attempted to match its traditional data and news distribution with multimedia and social media features.
Colarusso is also the latest high profile hire on Reuters’ editorial side this past year. Since February, when Stephen J. Adler was shifted from his role as SVP and editorial director of the news service’s Professional division to editor-in-chief of Reuters News, he has moved a number of staffers around and brought in some well-known names as the news service tries to match Bloomberg, which has been aggressively trying to build its brand among wider audience of professionals that goes beyond both companies’ core financial markets clients.