News Corp said on Thursday that William Lewis, interim chief executive officer of Dow Jones, will officially take on the job, opting for a veteran of Rupert Murdoch's empire after the departure of a former Bloomberg executive.
Lewis was named interim chief executive officer of Dow Jones, the publisher of The Wall Street Journal, on Jan. 21 after the abrupt exit of former Bloomberg Chief Executive Officer Lex Fenwick.
Fenwick left Dow Jones after his strategy to overhaul its Dow Jones enterprise business faltered and alienated clients with a rigid pricing structure [ID:nL2N0KV1T8]
Robert Thomson, chief executive of News Corp, said in a statement that Lewis had brought "focus and energy" to Dow Jones and "reconnected with core clients."
"He has also brought extra vigor to The Wall Street Journal franchise, which is developing its digital strategy, an area in which Will has particular expertise," he added.
Lewis was recruited to lead News Corp's management and standards committee after a phone hacking scandal from 2011 to 2012. He was named chief creative officer of News Corp last year when the company split from its cable, TV and movie properties now under 21st Century Fox.
News Corp also announced on Thursday better than expected earnings though a drop in advertising and subscription sales at its newspaper pushed down revenue. [ID:nL2N0NU26D]
Thomson Reuters competes with Dow Jones in providing news and data to banks and other financial institutions.
(Reporting by Jennifer Saba in New York; Editing by Cynthia Osterman)