Dow Jones sets revamp, consolidation at Wall Street Journal

|By:, SA News Editor

Dow Jones (NWS +0.7%, NWSA +1%) says it's planning a substantial revamp at The Wall Street Journal as part of a review to better address costs, amid an ongoing decline in print advertising.

The "WSJ2020" plan will look to rebalance the news organization's revenue streams as its customers flock to digital formats, and a revised version of the print newspaper will launch in the next few weeks with some sections consolidated.

“The new product will be a livelier, sharper and more concise newspaper that is an engaging counterpart to our digitally delivered news,” says a memo from Editor in Chief Gerard Baker. “It will also present a more coherent organization of our coverage in print, and will involve some consolidation of sections of the paper and the teams that produce it.”

That likely means headcount reductions as well. A memo from Dow Jones CEO William Lewis says WSJ2020 will focus on three area: the newsroom, ad sales, and areas to improve efficiency.