News Corp. (NSDQ: NWS) has appointed Lex Fenwick as the CEO of Dow Jones & Company, filling the position left open following Les Hinton’s resignation in July.
Fenwick has been at Bloomberg for the past 25 years, most recently as founder and CEO of VC fund and startup incubator Bloomberg Ventures. Before that, he was CEO of Bloomberg LP. His new position is effective February 13. He will report to Chase Carey, President and COO of News Corp.
The Financial Times reported last week that Fenwick was in the running for the Dow Jones CEO position, noting “the talks with Mr Fenwick surprised some media executives, who noted his limited experience with advertising, one of the biggest sources of revenue for the Wall Street Journal, and with editorial operations. Bloomberg News was under the command of Matt Winkler while Mr. Fenwick was chief executive.”
In a statement, News Corp. chairman and CEO Rupert Murdoch said, “We have clearly established WSJ as the premium consumer newspaper and we are thrilled that Lex will be driving our plans to grow all our Dow Jones franchises into true innovative market leaders for today’s digital world. We believe our enterprise business has the potential to follow the brand’s success in the consumer space, and be the premier product in providing the kind of hard-to-find, premium content that the financial customer demands. We are committed to making it happen and we think Lex is the executive to get us there.”