News Corp's Dow Jones Shaking Things Up: CEO Fenwick Removed, Co. Will Review Institutional Strategy

News Corp NWSA announced Tuesday afternoon several changes at Dow Jones & Co. aimed at helping improve the company's institutional strategy. CEO of DJ Lex Fenwick will be leaving the company, being replaced on an interim basis by William Lewis as head of the segment. The news has sources around the media space buzzing; however, shares of News Corp have not yet budged from Tuesday's closing price of $16.76. News Corp offered several notable comments:

• Robert Tomson, CEO of News Corp said, "We're reviewing the institutional strategy of Dow Jones with an eye towards changes that will deliver even more value to its customers. As part of that, we're planning improvements to DJX... We will also be redoubling our efforts to develop The Wall Street Journal and its digital properties globally, which continue to serve the world's most influential readers with the most authoritative news and analysis." Lex Fenwick joined DJ in February of 2012 following a 25-year career at Bloomberg.