Categories: OLD Media Moves

Dow Jones extends severance program

Dow Jones & Co. extended a severance pay program to more senior executives that would pay them money in the event the company is sold, according to an Associated Press story. The severance pay extension likely includes editors at The Wall Street Journal, Barron’s and Dow Jones Newswires.

The AP story stated, “In a regulatory filing Thursday, the financial news publisher said its board decided Monday to increase the number of senior management employees who are eligible for the severance program by about 135. Dow Jones publishes The Wall Street Journal, Barron’s, Dow Jones Newswires and other publications.

“Dow Jones also said the severance benefits would be enhanced by establishing a minimum severance pay period of 12 weeks. The company also adjusted its bonus program to account for measurement of bonuses should a sale occur this year.

“Dow Jones said the changes are designed to allow current and potential employees to focus on business objectives and help alleviate their concerns about the impact of a sale on their positions or compensation.”

Read more here. News Corp. CEO Rupert Murdoch has bid $5 billion to acquire the company, and other potential bidders have emerged this week.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.