Larsen resigns as Dow Jones president
06/19/2012| 01:03pm US/Eastern
(Reuters) - The president of News Corp unit Dow Jones & Co has resigned, the company said on Tuesday.
Todd Larsen, who worked for Dow Jones for more than a decade, was appointed president in 2010. He is leaving the company as it takes shape under Lex Fenwick, who was appointed chief executive earlier this year.
Larsen steered Dow Jones after CEO Les Hinton, a longtime associate of News Corp Chairman Rupert Murdoch, left in July 2011 as News Corp grappled with a phone hacking scandal that has enveloped its newspapers in Britain.
Larsen reported to News Corp President Chase Carey until Fenwick was appointed Dow Jones CEO in February. Larsen was also in the running for the CEO job, the Wall Street Journal reported at the time of Hinton's departure.
The company did not give any details of Larsen's plans. He did not immediately respond to a request for comment.
Fenwick, a Bloomberg LP veteran who headed the company from 2001 until 2008, is attempting to apply Bloomberg's strategy of selling one product at one price at Dow Jones, according to a source familiar with the matter. Dow Jones has multiple products and price points.
"Our digital business, one that others look to emulate, is at the forefront of the industry, and that is a testament to Todd's leadership and guidance, and we will continue to build upon that as we move forward," Fenwick said in a statement.
As president of Dow Jones, Larsen was responsible for business operations for the Wall Street Journal, MarketWatch, Factiva and Dow Jones Newswires.
He started with Dow Jones in 1999 as corporate director of strategic planning and development and worked his way up, including oversight of the Journal's online business.
The Wall Street Journal was one of the first newspapers to charge readers for access to online content.
When News Corp bought Dow Jones in 2007, Murdoch considered making the Wall Street Journal's website free. Larsen was instrumental in arguing in favor of a paid online model, according to the source.
Many newspapers have started to charge for online content as advertisers flee print editions.
Dow Jones and the Wall Street Journal are owned by News Corp and is a competitor to Thomson Reuters Corp.
(Reporting by Jennifer Saba; editing by Gerald E. McCormick and Jeffrey Benkoe)
By Jennifer Saba