Dow Jones’ CEO resigned today, one week before News Corp. is expected to finalize its purchase of the Wall Street Journal publisher. Insiders say Richard Zannino’s replacement will be Rupert Murdoch confidant Les Hinton; the succession, to be announced tomorrow, is thought to be the first among many in the $5 billion change in ownership, the Journal reports.
Dow Jones' CFO is seen departing in the near future, sources said, and the Journal's publisher is expected to be replaced by Times of London editor Robert Thomson. Zannino previously said he wanted to stay on; it remains unclear why he’s exiting. Murdoch called Zannino “an effective leader” today, but it’s thought he wasn’t willing to give Zannino the role he’d sought.