One Week Before Murdoch Takeover, Dow Jones C.E.O. Richard Zannino Resigns

richardzannino One Week Before Murdoch Takeover, Dow Jones C.E.O. Richard Zannino ResignsAfter less than two years on the job—and just a week before Rupert Murdoch takes formal control of Dow Jones—the company’s CEO, Richard Zannino, has resigned.

"Dow Jones is about to begin a new chapter," Mr. Zannino said in a statement. "Dow Jones fits perfectly into News Corp., and Rupert and I have been discussing since September my moving on from the company after the closing."

In a press release put out this afternoon, the company said: "News Corporation will be announcing Zanninos successor shortly. Mr. Zannino will assist in the transition."

Newsweek, which first reported the news, puts Mr. Zannino’s severance package at at least $30 million. Portfolio‘s Jeff Bercovici, meanwhile, wonders whether Robert Thomson will take over as CEO of Dow Jones, rather than as publisher of The Wall Street Journal.

Also, in reference to a report on Romenesko yesterday that 20 Journal newsroom staffers were going to be laid off and offered buyout packages, a spokesman for The Journal told Media Mob in an email: "It has to do with a continuing newsroom reorganization that has been underway since the summer. It’s worth noting that we are in the process of hiring journalists as well."

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