William Lewis, the publisher of The Wall Avenue Journal and chief govt of its mother or father corporation, Dow Jones, explained that he would leave the roles he experienced held considering that 2014.
“I am so grateful to all my colleagues at Dow Jones for acquiring manufactured me so welcome, and I am delighted to be leaving the business in these kinds of robust money shape,” he mentioned in an e mail to The New York Moments on Wednesday. “Most of all, I am really happy of how we have been able to progress the occupations of so several feminine colleagues at our business.”
The Journal printed an report on Wednesday declaring that his agreement had not been renewed. In an email, Mr. Lewis reported that was not the scenario.
“It is all totally amicable and I was not informed that my contract would not be renewed,” he informed The Occasions. “Frankly, it is time for me to get dwelling to London.”
“Will Lewis has overseen a amazing period of development and digital transformation at Dow Jones, creating it the greatest information and expert information enterprise in the globe,” stated Robert Thomson, the main govt of News Corp., in the assertion.
The announcement comes at a fraught moment for media corporations as promotion earnings plummets.
But The Journal has emerged in latest a long time as just one of various nationally oriented newspapers with wide identify recognition, deep newsrooms and properly-financed backers — others include The New York Periods and The Washington Publish. These media firms are observed as becoming able to climate and even thrive in an environment that has devalued local journalism and put an crucial on circulation earnings, notably digital subscriptions.
In the most recent earnings release from Information Corp., which acquired Dow Jones for $5 billion in 2007, Mr. Thomson promoted Dow Jones’s progress on these fronts, noting double-digit growth in digital subscriptions and a proportion of circulation profits coming from electronic that was larger than The New York Occasions Organization reported, as nicely as promising digital marketing trends.
In the very last several months, as the coronavirus pandemic has dominated the news cycle, The Journal removed its paywall for virus-relevant protection and experienced observed sharply greater world-wide-web targeted visitors and greater rates of new subscribers.
Just before he grew to become the main government of Dow Jones, Mr. Lewis was an govt at Information Corp., which is managed by Rupert Murdoch. He was previously a reporter and newspaper editor in his indigenous Britain. Mr. Murdoch, 89, the conservative billionaire, remains govt chairman of Information Corp. but has ceded considerably electrical power in recent a long time to his son, Lachlan, who is co-chairman.
Mr. Lewis and Mr. Thomson presided in excess of a changing of the guard at the prime of The Journal newsroom two a long time ago, appointing Matthew J. Murray to succeed Gerard Baker as editor in chief. Mr. Baker experienced held the position for much more than 5 yrs, which had been marked by elevated readership and award-winning investigations but also strife amongst some journalists who felt that his earlier as an outspoken critic of President Barack Obama manufactured him ill-suited to the President Trump period.
In February, Mr. Lewis also experienced to deal with an uncommon disaster when 3 Journal reporters were expelled from China — the to start with time China experienced performed so because at the very least 1998 — around a headline in The Journal’s viewpoint portion. The headline, which referred to China as “the Real Sick Male of Asia,” prompted an amazing letter signed by more than 50 Journal reporters and editors urging Mr. Lewis and Mr. Thomson to apologize for and improve the headline. Neither action was taken.
That crisis has since spiraled into a series of counter expulsions between China and the United States. Very last thirty day period, the Chinese government, which has also harassed many foreign journalists, expelled additional than a dozen international journalists from The Journal, The Instances and The Article, prompting Mr. Lewis and his counterparts at people two papers to launch a uncommon joint assertion pushing for the journalists’ reinstatements.