Why WSJ publisher Crovitz bailed

Jeff Bercovici of Conde Nast Portfolio speculates as to why Wall Street Journal publisher Gordon Crovitz stepped down from his position, just before News Corp. CEO Rupert Murdoch completed his acquisition of its parent, Dow Jones & Co.

Apparently, Crovitz was willing to stick around with the new ownership, but not the way that Murdoch designed the hierarchy.

Bercovici wrote, “Though [new publisher Robert] Thomson will inherit his title, his job description will be substantially different: He’ll oversee editorial matters, not business.

“So why send Crovitz packing without truly replacing him? In fact, says a source with detailed knowledge of the Journal‘s operations, that was never the plan. Thomson’s job was originally conceived as overseeing both Crovitz and managing editor Marcus Brauchli, but Crovitz balked at the idea of reporting to Thomson rather than to the CEO. (Crovitz never returned a call for comment.) Thomson’s lack of business-side experience suggests that the Journal will need to find someone to assume Crovitz’s responsibilities, and fast.”

Read more here.