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Dow Jones CEO’s abrupt exit throws strategy into doubt

22
Jan
2014

By Jennifer Saba NEW YORK (Reuters) – News Corp said Lex Fenwick was leaving as chief executive of Dow Jones, less than two years after taking the helm, an abrupt departure that calls into question the future of its news wires and other products aimed at financial institutions. Rupert Murdochs News Corp, which owns Dow Jones, did not explain the departure but said it was reviewing the one-size-fits-all strategy Fenwick had put in place for its news wires and other products. The bundled product offering that resulted, known as DJX, alienated some of the banks, hedge funds and retail brokers that were its main customers because of its rigid pricing structure. Were reviewing the institutional strategy of Dow Jones with an eye towards changes that will deliver even more value to its customers, News Corp Chief Executive Robert Thomson said in a statement on Tuesday.

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