News Corp., the parent company of The Wall Street Journal, Marketwatch.com, Barron’s and Dow Jones Newswires, reported second quarter earnings on Wednesday, and during the conference call, chief operating officer Chase Carey was asked to comment on the growth potential at that division, Dow Jones & Co.
Carey responded:
This digital world is going to make quality information I think more valuable than ever. We want talk quality information, I mean The Wall Street Journal, Dow Jones is the top of the heap. And I think to date, a lot of our focus has been on the journalist consumer product will sustain the other business but I think we really have not taken advantage of the opportunities to develop the broader digital franchises that can be grown out of — and we’ve grown, so I’m not saying they haven’t — the people there have not undertaken initiatives.
But I think there’s a real set of opportunities for us to create products. And I guess you can certainly hit it B2B, B2C. I’m not sure it’s not sort of continuum. I mean in many let’s say it’s a professional individual, a consumer or a business person. And I think that’s sort of what we’re going to create. What we need to create is products but have a continuum from sort of obviously [indiscernible] base and the ability to create products that turn up from that, whether they’re targeted or deeper that take advantage digital technologies.
And in many ways, a little bit like i talked about elsewhere, one of the great benefits we have in building these things is we can take advantage of the digital technological infrastructure that’s been put in place. And we are not building with some of the legacy infrastructures that others may have. I think mostly it’s taking advantage of what we got.
Read the entire transcript here.
