The British editor of The Sunday Times has been handed the top job at America's most prestigious financial news organisation as Rupert Murdoch accelerates his succession plan.
Emma Tucker will become editor-in-chief of The Wall Street Journal in February, replacing current editor Matt Murray. She will become the first woman in the role.
Mr Murray will move into a new senior role at News Corp, reporting to chief executive Robert Thompson.
The reshuffle delivers further cross-pollination between Mr Murdoch’s businesses in the US and UK and will fuel ongoing speculation in media circles that Rebekah Brooks, News UK chief executive, is also being lined up for a senior role in New York.
Allies of Mr Murdoch have suggested he was frustrated by The Wall Street Journal’s perceived failure in 2020 to aggressively pursue stories about President Biden’s son Hunter. Other outlets were credited with scoops involving a leaked cache of emails.
Mr Thomson said Ms Tucker, who began her career in journalism at the Financial Times before joining the Murdoch stable in 2007, “will never knowingly be beaten to a scoop”.
The Wall Street Journal is published by Dow Jones, while titles such as The Times and the Sun are overseen by News UK. All fall under the wider News Corp umbrella.
It comes as 91-year-old Mr Murdoch explores a possible merger between News Corp and Fox, the US broadcaster behind Fox News, as he hands control of his empire to eldest son Lachlan.
The change of role for Ms Tucker, who has led The Sunday Times since 2020, comes as it increasingly shares resources with its sister daily title to save costs and create a unified digital news service.
Ben Taylor, current deputy editor of the Sunday Times, is said to be frontrunner for the role.
Mr Murray joined Dow Jones in 1994 and has led the Wall Street Journal since June 2018. Last year The New York Times reported that he had clashed with Almar Latour, chief executive of Dow Jones and publisher of The Wall Street Journal, over the paper’s digital strategy. Dow Jones denied there had been friction.
Mr Murdoch bought Dow Jones and The Wall Street Journal in 2007 for $5bn, which even before the financial crisis was viewed as a full price. In contrast to radical changes imposed on his other brands he has struggled to put his stamp on the institution and its culture, however.
A Special Committee was formed in agreement with its former owners, the billionaire Bancroft family, with a remit to safeguard editorial independence and ethical standards. It interviewed Ms Tucker prior to her appointment.
She said: “As a long-time admirer and reader of the brilliant journalism of The Wall Street Journal, it is my honour to edit this great newspaper.
“With some of the best writers and the wisest minds on its staff, this impactful publication continues to set the agenda and reach ever-wider digital audiences around the world. I look forward to working with Matt through the transition.”
It came as The Guardian imposed a hiring freeze as it warned of slowdowns in advertising revenues and supporter growth, as well as rising costs.
In an email to staff, Anna Bateson, chief executive of Guardian Media Group, said the company would implement a freeze on “all but essential” recruitment in non-editorial departments, while editorial hiring would continue to require senior approval.
The newspaper will also cut back on discretionary spending such as travel and expenses with immediate effect.
Ms Bateson said: “I realise this is a difficult message but I want to be completely transparent and work with everyone to protect the Guardian’s financial stability long-term.”