WSJ ME Thomson: Reporters will be judged on whether they break news

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21 Responses

  1. Donald says:

    Tough stuff. Sounds like he gets the key to the future of news though – “make your news valuable.” The WSJ has generally been better at that than most.

  2. I.F. Stoner says:

    “less worthy competitors” Yikes, whatta douchebag. He works for Rupert Murdoch and slags off the competition? Steiger might have though this, but would never had *said* it.

  3. Salvatore says:

    In case it isn’t obvious what’s happening, it’s this: News Corp. senses an opportunity to downsize. If you’ve got more WSJ scribes banging out Newswires stories, you don’t necessarily need all those Newswires reporters, do you? I predict you’ll see the Dow Jones employee base shrink overall once Dow Jones moves up to News Corp. HQ in midtown NYC

  4. CJ says:

    :mrgreen: They are obviously getting the crap kicked out of them and realizing they no longer have anything special so they actually have to work or they will die. Bravo to the competitors

  5. SM says:

    DJ Newswires has got to be under great pressure as their customer base — financial institutions and legacy media outlets (newspapers) — is melting like snowballs in July. Reuters and Bloomberg with their wires well financed by their terminal business are stronger competitors.

    Act I of this drama was the $2.8 billion writedown in 2008 as the consumer side of DJ (WSJ) deteriorated. Act II will be the deterioration of the enterprise side.

  6. Joan says:

    That’s an awful lot of arrogance coming from a publication that’s becoming less and less relevant by the day. The reason Bloomberg is so successful isn’t just its business platform, it’s the content. Not only are they faster, but they are faster at getting full stories out with the same content and forward-looking perspective that takes the Journal all day to write.

  7. The Stiletto says:

    Has anyone noticed how often Stephen Hayes appears on FOX News these days? He’s practically a nightly regular on “Greta” and often makes back-to-back appearances throughout the evening line-up. Clearly, Rupe wants to sqeeze every penny of value out of his well-paid assets on the Journal. Hayes is proving his worth, but his less personable and telegenic (by which I mean a sense of ease on camera, rather than looks, since WSJ’s talking heads are generally on the homely side, except for Brett Stephens who is a standout in that crowd) colleagues should probably dust off their resumes.

  8. Colonel says:

    Salvatore: I think you’re right about the downsizing opportunity, but I see this more as a threat to the WSJ reporters, who aren’t necessarily wired to break news all the time. Thomson directly goes after the style and voice of the so-called “speedys” from the WSJ. Newswires writes in a more direct style. He’s basically giving the WSJ reporters a lot of rope to hang themselves. Those who adapt will stick around; those who don’t will cede their beats to their Newswires counterparts, who work for less, by the way.

  9. JW says:

    This means WSJ reporters are now going to be required to get breaking news stories out just like DJ Newswires reporters do. No longer will they be able to sit on stories like they used to. WSJ reporters have excellent contacts and often break news. Now they’ll have to do it faster and will need to beat other wires and online competitors. They didn’t have to do this before.

  10. Hugo Black says:

    About time. They seem finally to realize that news is not perspective. Readers want news. Can the commentary and leave the perspective to The Economist. Maybe I won’t have to drop my subscription to WSJ print edition after all.

  11. new world order says:

    Bloomberg is filled with ex WSJ people who are at war with themselves over whether to emphasize breaking news or enterprise. The Journal’s new mandate no doubt is already causing phenomenal heartburn and hand wringing at BB HQ on Lexington Avenue. BB will over-react, throwing everything they have at this problem. Bloomberg will undoubtedly prevail, but top managers will remorselessly inflict significant damage to their own editors and reporters in the process. That’s just how they roll.

  12. george dyer says:

    I read the Journal, religiously for over twenty years, not for its breaking stories ,but for its well written,well researched pieces on issues that affected and impacted people lives. The Journal now is
    an empty shell. Murdoch has taken a great paper and is making it into one of his other rags. Five years, he’ll sell it. Any takers.

  13. Cynthia Maxwell says:

    WSJ readers, say goodbye to investigative reporting.

  14. Craig Maltby says:

    I wonder whether Mr. Thomson knows his audience. Perhaps he does and I am not the target market. I enjoy in-depth feature reporting and investigation. I must be the kind of reader the Journal wants to sacrifice. To me, breaking news is almost a commodity these days. Why does the Journal want to join the commodity wars? I suppose if I get my business features from Portfolio, Vanity Fair, Fortune or the NY Observer, that would suit the WSJ just fine.

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