The Wall Street Journal Closes Boston Bureau (NWS)
Thu. October 29, 2009; Posted: 01:40 PM
Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/29/2009-In an effort to cut costs, The Wall Street Journal (NYSE:NWS) has reportedly shuttered its Boston, Mass. bureau and said it plans to shift its mutual fund coverage to another team. "We remain in the midst of a profound downturn in advertising revenue and thus must think the unthinkable," wrote Managing Editor Robert Thomson. Thompson also said that News Corp will keep sister news companies Dow Jones Newswires and Marketwatch in Boston. However, nine reporters will be affected by the closure. The WSJ declined to say how much the closure will save.
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